Renaissance Technologies LLC Makes New $30.12 Million Investment in Impinj, Inc. (NASDAQ:PI)

Renaissance Technologies LLC bought a new position in shares of Impinj, Inc. (NASDAQ:PI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 192,100 shares of the company’s stock, valued at approximately $30,116,000. Renaissance Technologies LLC owned 0.69% of Impinj as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after purchasing an additional 35,893 shares in the last quarter. Capital International Investors bought a new stake in shares of Impinj in the 4th quarter worth approximately $68,211,000. Assenagon Asset Management S.A. bought a new stake in shares of Impinj in the 2nd quarter worth approximately $103,252,000. Janus Henderson Group PLC lifted its position in Impinj by 0.6% in the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after acquiring an additional 2,681 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in Impinj by 19.6% in the 4th quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after acquiring an additional 33,504 shares in the last quarter.

Insider Buying and Selling at Impinj

In related news, insider Cathal G. Phelan sold 212 shares of Impinj stock in a transaction on Monday, June 24th. The shares were sold at an average price of $147.52, for a total transaction of $31,274.24. Following the transaction, the insider now owns 16,669 shares in the company, valued at approximately $2,459,010.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Impinj news, CEO Chris Ph.D. Diorio sold 6,519 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $148.01, for a total value of $964,877.19. Following the completion of the transaction, the chief executive officer now directly owns 289,474 shares in the company, valued at approximately $42,845,046.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cathal G. Phelan sold 212 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $147.52, for a total value of $31,274.24. Following the completion of the transaction, the insider now owns 16,669 shares of the company’s stock, valued at $2,459,010.88. The disclosure for this sale can be found here. Insiders have sold 36,762 shares of company stock valued at $5,765,390 over the last 90 days. 51.00% of the stock is currently owned by corporate insiders.

Impinj Price Performance

NASDAQ:PI opened at $201.41 on Friday. Impinj, Inc. has a one year low of $48.39 and a one year high of $204.00. The business has a fifty day moving average price of $164.84 and a 200-day moving average price of $151.32. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of -575.46 and a beta of 1.78.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The firm had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) earnings per share. On average, equities research analysts expect that Impinj, Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Lake Street Capital upped their price objective on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI upped their price objective on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $205.00 price objective on shares of Impinj in a research report on Thursday, July 25th. Susquehanna upped their price objective on Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.10.

About Impinj

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.