GSA Capital Partners LLP Buys 714 Shares of Impinj, Inc. (NASDAQ:PI)

GSA Capital Partners LLP increased its stake in Impinj, Inc. (NASDAQ:PI) by 26.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,401 shares of the company’s stock after purchasing an additional 714 shares during the period. GSA Capital Partners LLP’s holdings in Impinj were worth $736,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PI. Farther Finance Advisors LLC boosted its stake in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in Impinj in the third quarter valued at approximately $54,000. SouthState Corp bought a new stake in shares of Impinj during the 2nd quarter valued at $94,000. Asset Management One Co. Ltd. acquired a new position in shares of Impinj in the 3rd quarter valued at $138,000. Finally, USA Financial Formulas boosted its position in shares of Impinj by 82.0% in the 3rd quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after purchasing an additional 296 shares during the last quarter.

Insider Buying and Selling at Impinj

In other news, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the completion of the transaction, the executive now directly owns 65,294 shares in the company, valued at $11,829,313.98. This represents a 10.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares of the company’s stock, 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. In the last quarter, insiders have sold 656,351 shares of company stock worth $131,733,291. Corporate insiders own 51.00% of the company’s stock.

Analyst Upgrades and Downgrades

PI has been the topic of several analyst reports. The Goldman Sachs Group increased their target price on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Roth Mkm increased their price target on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Needham & Company LLC upped their target price on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Lake Street Capital lifted their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Piper Sandler reissued an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Trading Down 3.4 %

PI opened at $176.51 on Monday. The stock has a market capitalization of $4.99 billion, a P/E ratio of 198.33 and a beta of 1.81. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88. The firm’s fifty day simple moving average is $205.73 and its 200 day simple moving average is $175.99.

Impinj (NASDAQ:PI) last issued its quarterly 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 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 company’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) earnings per share. On average, equities research analysts predict that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

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.