Crossmark Global Holdings Inc. Makes New Investment in Impinj, Inc. (NASDAQ:PI)

Crossmark Global Holdings Inc. acquired a new stake in Impinj, Inc. (NASDAQ:PI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,717 shares of the company’s stock, valued at approximately $371,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj in the 3rd quarter valued at $54,000. SouthState Corp acquired a new stake in Impinj during the 2nd quarter worth $94,000. nVerses Capital LLC lifted its position in Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after acquiring an additional 300 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its stake in Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after acquiring an additional 549 shares in the last quarter.

Impinj Stock Down 3.4 %

Impinj stock opened at $176.51 on Monday. The firm’s 50-day simple moving average is $205.73 and its 200 day simple moving average is $175.99. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88. The firm has a market capitalization of $4.99 billion, a PE ratio of 198.33 and a beta of 1.81.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Impinj’s revenue was up 46.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.36) EPS. On average, research analysts expect that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Needham & Company LLC increased their price objective on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report 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 stock a “neutral” rating in a research note on Friday, October 25th. Roth Mkm lifted their price objective on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Lake Street Capital raised their price target on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald boosted their price target on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Insider Activity at Impinj

In other Impinj news, CFO Cary Baker sold 496 shares of Impinj stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total value of $103,748.32. Following the transaction, the chief financial officer now owns 70,524 shares in the company, valued at $14,751,505.08. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total value of $313,261.76. Following the sale, the chief executive officer now owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. The trade was a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 656,351 shares of company stock valued at $131,733,291. Company insiders own 51.00% of the company’s stock.

Impinj Company 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.