Axa S.A. Buys New Shares in Impinj, Inc. (NASDAQ:PI)

Axa S.A. purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) in the 2nd quarter, Holdings Channel reports. The firm purchased 73,830 shares of the company’s stock, valued at approximately $11,574,000.

A number of other hedge funds also recently made changes to their positions in PI. Capital International Investors purchased a new stake in shares of Impinj during the 4th quarter worth about $68,211,000. Assenagon Asset Management S.A. acquired a new position in Impinj during the second quarter valued at approximately $103,252,000. Jennison Associates LLC acquired a new stake in shares of Impinj in the first quarter worth $25,747,000. Renaissance Technologies LLC purchased a new position in shares of Impinj in the 2nd quarter valued at $30,116,000. Finally, TimesSquare Capital Management LLC acquired a new position in shares of Impinj during the 1st quarter valued at $19,195,000.

Impinj Price Performance

NASDAQ PI opened at $213.31 on Friday. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of -609.46 and a beta of 1.78. Impinj, Inc. has a 12 month low of $48.39 and a 12 month high of $220.17. The company’s fifty day moving average price is $168.51 and its two-hundred day moving average price is $154.71.

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

Insider Activity

In other Impinj news, CFO Cary Baker sold 356 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $175.42, for a total transaction of $62,449.52. Following the sale, the chief financial officer now directly owns 69,760 shares of the company’s stock, valued at $12,237,299.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Impinj news, CFO Cary Baker sold 356 shares of Impinj stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $175.42, for a total value of $62,449.52. Following the completion of the transaction, the chief financial officer now directly owns 69,760 shares in the company, valued at $12,237,299.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were bought at an average price of $4.69 per share, for a total transaction 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. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 31,713 shares of company stock worth $5,239,232. 51.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PI. Piper Sandler reiterated an “overweight” rating and issued a $225.00 price target (up from $180.00) on shares of Impinj in a report on Friday. Roth Mkm boosted their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI increased their price objective on shares of Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $205.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Finally, Susquehanna upped their target price on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and an average price target of $191.60.

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.