Wealth Enhancement Advisory Services LLC Buys 5,669 Shares of Impinj, Inc. (NASDAQ:PI)

Wealth Enhancement Advisory Services LLC raised its stake in shares of Impinj, Inc. (NASDAQ:PI) by 157.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,278 shares of the company’s stock after buying an additional 5,669 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Impinj were worth $2,009,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PI. Consolidated Portfolio Review Corp acquired a new position in shares of Impinj in the 3rd quarter valued at $1,861,000. Louisiana State Employees Retirement System acquired a new position in Impinj in the third quarter valued at about $2,382,000. Highland Capital Management LLC acquired a new position in Impinj in the third quarter valued at about $222,000. X Square Capital LLC bought a new stake in shares of Impinj in the third quarter worth about $223,000. Finally, Courier Capital LLC acquired a new stake in shares of Impinj during the third quarter worth about $217,000.

Impinj Price Performance

Shares of NASDAQ PI opened at $194.71 on Friday. The business has a 50-day moving average of $199.89 and a 200-day moving average of $171.88. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 218.78 and a beta of 1.82. Impinj, Inc. has a fifty-two week low of $62.84 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business’s quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.36) EPS. On average, sell-side analysts expect that Impinj, Inc. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on PI shares. Susquehanna increased their target price on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Cantor Fitzgerald increased their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Lake Street Capital raised their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC upped their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Roth Mkm lifted their price target on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Impinj news, major shareholder Sylebra Capital Llc acquired 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 transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cathal G. Phelan sold 677 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $162.46, for a total value of $109,985.42. Following the transaction, the insider now directly owns 17,367 shares in the company, valued at $2,821,442.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,284 shares of company stock valued at $19,783,007. 51.00% of the stock is currently owned by corporate 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.