Verdence Capital Advisors LLC Buys Shares of 1,203 Impinj, Inc. (NASDAQ:PI)

Verdence Capital Advisors LLC purchased a new position in Impinj, Inc. (NASDAQ:PI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,203 shares of the company’s stock, valued at approximately $260,000.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Impinj in the 1st quarter valued at about $513,000. Harbor Capital Advisors Inc. increased its holdings in shares of Impinj by 112.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock valued at $2,122,000 after purchasing an additional 7,151 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Impinj by 21.7% in the third quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock valued at $4,969,000 after purchasing an additional 4,090 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Impinj during the third quarter worth approximately $1,126,000. Finally, Vanguard Group Inc. boosted its stake in Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after buying an additional 35,893 shares during the last quarter.

Impinj Stock Down 2.3 %

PI opened at $194.64 on Wednesday. Impinj, Inc. has a 52 week low of $69.50 and a 52 week high of $239.88. The business has a fifty day simple moving average of $203.93 and a 200-day simple moving average of $175.32. The firm has a market cap of $5.51 billion, a P/E ratio of 218.70 and a beta of 1.81.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same period last year, the business posted ($0.36) EPS. Sell-side analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Roth Mkm lifted their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Cantor Fitzgerald lifted their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price target 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. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Impinj presently has an average rating of “Moderate Buy” and an average price target of $224.60.

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total transaction of $313,261.76. Following the sale, the chief executive officer now directly owns 292,532 shares in the company, valued at $61,174,291.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of Impinj stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the transaction, the chief executive officer now owns 292,532 shares of the company’s stock, valued at $61,174,291.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 646,301 shares of company stock worth $129,876,220. Corporate insiders own 51.00% of the company’s stock.

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.