Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 35,091 Impinj, Inc. (NASDAQ:PI)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,091 shares of the company's stock, valued at approximately $7,598,000. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Impinj as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Jennison Associates LLC raised its holdings in Impinj by 15.0% during the third quarter. Jennison Associates LLC now owns 239,140 shares of the company's stock worth $51,779,000 after purchasing an additional 31,269 shares in the last quarter. Quest Partners LLC increased its position in shares of Impinj by 8,454.5% during the 3rd quarter. Quest Partners LLC now owns 941 shares of the company's stock valued at $204,000 after purchasing an additional 930 shares during the period. Thrivent Financial for Lutherans bought a new stake in shares of Impinj in the 3rd quarter worth $3,872,000. Mutual of America Capital Management LLC acquired a new stake in shares of Impinj in the third quarter valued at $742,000. Finally, CIBC Asset Management Inc bought a new position in Impinj during the third quarter valued at about $273,000.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Evercore ISI reissued an "outperform" rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Needham & Company LLC increased their price objective on Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Cantor Fitzgerald lifted their target price on Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Susquehanna boosted their target price on Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a research report on Monday, October 21st. Finally, StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $224.60.

Impinj Price Performance

NASDAQ:PI traded up $2.74 during midday trading on Friday, reaching $191.04. The stock had a trading volume of 302,644 shares, compared to its average volume of 539,272. The stock has a market capitalization of $5.40 billion, a P/E ratio of 214.65 and a beta of 1.81. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88. The firm's fifty day simple moving average is $206.17 and its 200-day simple moving average is $176.75.

Impinj (NASDAQ:PI - Get Free Report) last released 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. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same quarter last year, the firm posted ($0.36) EPS. The company's revenue was up 46.5% on a year-over-year basis. On average, equities research analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Activity at Impinj

In other news, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the sale, the insider now directly owns 17,647 shares in the company, valued at approximately $3,690,870.05. The trade was a 1.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction dated 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 transaction, the executive now directly owns 65,294 shares of the company's stock, valued at $11,829,313.98. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 655,674 shares of company stock worth $131,623,305. Company insiders own 51.00% of the company's stock.

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.