Oppenheimer Asset Management Inc. Has $443,000 Stake in Impinj, Inc. (NASDAQ:PI)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 31.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,044 shares of the company’s stock after buying an additional 487 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Impinj were worth $443,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new stake in shares of Impinj in the 2nd quarter valued at $103,252,000. Renaissance Technologies LLC acquired a new stake in shares of Impinj during the second quarter worth approximately $30,116,000. Principal Financial Group Inc. boosted its holdings in shares of Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after acquiring an additional 122,579 shares in the last quarter. AXA S.A. bought a new stake in Impinj during the 2nd quarter worth approximately $11,574,000. Finally, Squarepoint Ops LLC increased its holdings in Impinj by 501.9% during the 2nd quarter. Squarepoint Ops LLC now owns 69,232 shares of the company’s stock valued at $10,854,000 after purchasing an additional 57,730 shares in the last quarter.

Insider Activity

In other Impinj news, CRO Jeffrey Dossett sold 577 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.20, for a total transaction of $120,708.40. Following the transaction, the executive now owns 64,532 shares of the company’s stock, valued at $13,500,094.40. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 acquisition, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. The trade was a 14.81 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 655,674 shares of company stock worth $131,623,305 over the last ninety days. Insiders own 51.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Susquehanna upped their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Cantor Fitzgerald lifted their target price on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $224.60.

Impinj Trading Up 3.9 %

Shares of NASDAQ PI opened at $182.84 on Wednesday. The company has a fifty day moving average price of $205.81 and a 200 day moving average price of $176.26. The firm has a market cap of $5.17 billion, a PE ratio of 202.24 and a beta of 1.81. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings data 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 company had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. Impinj’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.36) earnings per share. Equities research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

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.