Quantbot Technologies LP Has $3.36 Million Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Quantbot Technologies LP decreased its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 45.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,493 shares of the company’s stock after selling 12,670 shares during the quarter. Quantbot Technologies LP’s holdings in Impinj were worth $3,355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Los Angeles Capital Management LLC increased its stake in Impinj by 210.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after buying an additional 5,807 shares during the period. SG Americas Securities LLC increased its stake in shares of Impinj by 457.1% in the second quarter. SG Americas Securities LLC now owns 22,260 shares of the company’s stock worth $3,490,000 after acquiring an additional 18,264 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Impinj during the third quarter worth $3,872,000. Principal Financial Group Inc. boosted its position in Impinj by 4,013.7% during the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after purchasing an additional 122,579 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Impinj by 112.0% during 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PI shares. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their target price 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. Piper Sandler restated an “overweight” rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Lake Street Capital lifted their price objective on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Susquehanna increased their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Impinj Price Performance

PI stock opened at $189.25 on Thursday. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 212.64 and a beta of 1.81. The company has a 50-day moving average of $206.38 and a two-hundred day moving average of $177.50. Impinj, Inc. has a 52-week low of $78.17 and a 52-week high of $239.88.

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

Insider Transactions at Impinj

In related news, insider Cathal G. Phelan sold 209 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total transaction of $43,712.35. Following the transaction, the insider now directly owns 17,647 shares in the company, valued at $3,690,870.05. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Cary Baker sold 496 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the sale, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 655,674 shares of company stock worth $131,623,305. Insiders own 51.00% of the company’s stock.

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.