Quent Capital LLC Boosts Position in Impinj, Inc. (NASDAQ:PI)

Quent Capital LLC raised its stake in Impinj, Inc. (NASDAQ:PI) by 21.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,350 shares of the company’s stock after acquiring an additional 2,000 shares during the period. Quent Capital LLC’s holdings in Impinj were worth $2,458,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors acquired a new stake in shares of Impinj during the fourth quarter worth about $68,211,000. Prudential PLC purchased a new stake in Impinj in the fourth quarter valued at approximately $277,000. Ghisallo Capital Management LLC acquired a new stake in shares of Impinj in the fourth quarter valued at approximately $4,192,000. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj during the first quarter worth approximately $32,000. Finally, Deltec Asset Management LLC acquired a new position in shares of Impinj in the 1st quarter valued at $584,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Roth Mkm increased their price target on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Piper Sandler reiterated an “overweight” rating and set a $225.00 target price (up previously from $180.00) on shares of Impinj in a research note on Friday, September 27th. Evercore ISI upped their price objective on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Impinj in a research note on Thursday, July 25th. Finally, Susquehanna upped their price target on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Impinj has a consensus rating of “Moderate Buy” and an average target price of $191.60.

Impinj Stock Performance

PI stock traded up $4.69 during midday trading on Friday, hitting $218.34. 553,781 shares of the stock were exchanged, compared to its average volume of 458,433. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of -623.83 and a beta of 1.80. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $220.17. The stock’s 50-day moving average price is $174.51 and its 200-day moving average price is $158.66.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The firm’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.14) EPS. Research analysts anticipate that Impinj, Inc. will post 0.31 EPS for the current year.

Insider Activity

In related news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Impinj news, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $162.32, for a total value 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the business’s stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 26,713 shares of company stock worth $4,469,082 over the last ninety days. 51.00% of the stock is currently owned by insiders.

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.