State of New Jersey Common Pension Fund D Has $1.81 Million Position in Impinj, Inc. (NASDAQ:PI)

State of New Jersey Common Pension Fund D cut its holdings in Impinj, Inc. (NASDAQ:PI) by 56.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,563 shares of the company’s stock after selling 15,181 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Impinj were worth $1,813,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in Impinj by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock worth $16,282,000 after buying an additional 6,810 shares in the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Impinj during the fourth quarter valued at $4,192,000. Eagle Asset Management Inc. boosted its holdings in Impinj by 19.6% in the fourth 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 during the last quarter. SG Americas Securities LLC acquired a new stake in Impinj in the first quarter worth about $513,000. Finally, TimesSquare Capital Management LLC bought a new stake in Impinj during the 1st quarter worth about $19,195,000.

Impinj Trading Up 3.1 %

NASDAQ:PI opened at $208.17 on Tuesday. The stock has a market capitalization of $5.77 billion, a PE ratio of -594.77 and a beta of 1.78. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $208.33. The firm has a fifty day simple moving average of $166.13 and a 200 day simple moving average of $153.17.

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

Wall Street Analysts Forecast Growth

PI has been the subject of a number of analyst reports. Evercore ISI lifted their price objective on Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and set a $205.00 target price on shares of Impinj in a research report on Thursday, July 25th. Susquehanna increased their price target on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Needham & Company LLC restated a “buy” rating and set a $195.00 price objective on shares of Impinj in a report on Thursday, July 25th. Finally, Roth Mkm increased their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $187.10.

Insider Buying and Selling at Impinj

In other news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $162.32, for a total transaction of $811,600.00. Following the completion of the sale, the chief executive officer now directly owns 289,474 shares of the company’s stock, valued at approximately $46,987,419.68. The disclosure for this sale can be found here. Insiders have sold a total of 28,111 shares of company stock valued at $4,485,855 in the last three months. 51.00% of the stock is currently owned by company insiders.

Impinj Profile

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.