28,163 Shares in Impinj, Inc. (NASDAQ:PI) Bought by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 28,163 shares of the company’s stock, valued at approximately $4,415,000.

Other hedge funds have also recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in Impinj by 0.8% in the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock valued at $5,158,000 after acquiring an additional 248 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Impinj in the first quarter valued at $32,000. Arizona State Retirement System lifted its holdings in Impinj by 4.1% in the second quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock valued at $1,032,000 after acquiring an additional 261 shares during the period. nVerses Capital LLC lifted its holdings 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 period. Finally, ProShare Advisors LLC lifted its holdings in Impinj by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,194 shares of the company’s stock valued at $539,000 after acquiring an additional 330 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PI shares. Evercore ISI raised their target price on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Piper Sandler lifted their price target on Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Roth Mkm lifted their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group downgraded Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price target for the company. in a research note on Monday, May 20th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.10.

Insider Buying and Selling

In other Impinj news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the stock in a transaction on Friday, September 13th. The stock was bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Impinj news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the stock in a transaction on Friday, September 13th. The stock was bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Hussein Mecklai sold 416 shares of Impinj stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $175.43, for a total value of $72,978.88. Following the completion of the sale, the chief operating officer now owns 58,104 shares of the company’s stock, valued at approximately $10,193,184.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,762 shares of company stock worth $5,765,390. 51.00% of the stock is owned by corporate insiders.

Impinj Trading Up 0.4 %

Impinj stock opened at $186.62 on Tuesday. The stock has a market cap of $5.25 billion, a PE ratio of -533.20 and a beta of 1.78. The stock has a 50-day moving average price of $163.03 and a 200 day moving average price of $150.14. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $190.22.

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

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.