Impinj, Inc. (NASDAQ:PI) Shares Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP grew its stake in shares of Impinj, Inc. (NASDAQ:PI) by 130.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,058 shares of the company’s stock after acquiring an additional 4,568 shares during the period. Dark Forest Capital Management LP’s holdings in Impinj were worth $1,263,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new stake in Impinj in the 1st quarter valued at about $32,000. SouthState Corp purchased a new stake in shares of Impinj in the second quarter valued at about $94,000. nVerses Capital LLC grew its position in shares of Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after purchasing an additional 521 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. raised its position in shares of Impinj by 211.2% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after purchasing an additional 549 shares during the last quarter.

Insider Transactions at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Impinj news, CFO Cary Baker sold 496 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the transaction, the chief financial officer now owns 70,524 shares in the company, valued at approximately $14,751,505.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were purchased 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 disclosure for this purchase can be found here. Insiders have sold a total of 31,713 shares of company stock worth $5,239,232 in the last three months. 51.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Roth Mkm increased their target price on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Impinj in a research note on Thursday, July 25th. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Piper Sandler raised their price target on shares of Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Lake Street Capital boosted their price objective on shares of Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.10.

Impinj Stock Performance

Shares of PI stock opened at $214.05 on Thursday. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of -611.57 and a beta of 1.78. Impinj, Inc. has a one year low of $48.39 and a one year high of $217.66. The company has a 50 day moving average price of $167.65 and a 200 day moving average price of $154.27.

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

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.