Intech Investment Management LLC Makes New $1.44 Million Investment in Impinj, Inc. (NASDAQ:PI)

Intech Investment Management LLC bought a new position in Impinj, Inc. (NASDAQ:PI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,636 shares of the company’s stock, valued at approximately $1,437,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PI. Farther Finance Advisors LLC boosted its holdings in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after buying an additional 141 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj in the third quarter worth approximately $54,000. SouthState Corp purchased a new stake in shares of Impinj in the second quarter worth approximately $94,000. nVerses Capital LLC lifted its position in shares of Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its position in shares of Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after purchasing an additional 549 shares in the last quarter.

Insider Buying and Selling at Impinj

In related news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the stock in a transaction dated Friday, September 13th. The shares were acquired at an average price 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 in the company, valued at approximately $155,006,638.64. The trade was a 14.81 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jeffrey Dossett sold 7,500 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the completion of the sale, the executive now owns 65,294 shares in the company, valued at approximately $11,829,313.98. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 655,674 shares of company stock worth $131,623,305 over the last 90 days. Insiders own 51.00% of the company’s stock.

Impinj Stock Up 1.4 %

Shares of PI stock opened at $193.63 on Tuesday. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88. The business’s 50 day moving average is $206.17 and its two-hundred day moving average is $176.92. The company has a market cap of $5.48 billion, a PE ratio of 215.71 and a beta of 1.81.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same quarter last year, the company posted ($0.36) earnings per share. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. As a group, equities analysts expect that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. 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 report on Friday, October 25th. Cantor Fitzgerald increased their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Needham & Company LLC increased their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Susquehanna raised their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price objective (up previously from $225.00) 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’s stock. According to MarketBeat, Impinj currently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

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.