Capital Fund Management S.A. Invests $1.80 Million in Impinj, Inc. (NASDAQ:PI)

Capital Fund Management S.A. bought a new position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 12,398 shares of the company's stock, valued at approximately $1,801,000.

A number of other hedge funds also recently added to or reduced their stakes in PI. National Bank of Canada FI acquired a new stake in shares of Impinj in the third quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Impinj in the fourth quarter valued at about $33,000. Jones Financial Companies Lllp lifted its position in Impinj by 205.9% during the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after acquiring an additional 175 shares in the last quarter. IFP Advisors Inc lifted its position in Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after acquiring an additional 198 shares in the last quarter. Finally, Spire Wealth Management purchased a new position in Impinj in the 4th quarter worth approximately $87,000.

Insider Transactions at Impinj

In related news, insider Cathal G. Phelan sold 565 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the sale, the insider now directly owns 7,925 shares of the company's stock, valued at $782,752.25. This represents a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the transaction, the chief operating officer now owns 70,347 shares in the company, valued at approximately $6,950,987.07. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,857 shares of company stock worth $1,665,290. Insiders own 51.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PI shares. Piper Sandler reduced their target price on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC decreased their price objective on shares of Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald upgraded Impinj to a "strong-buy" rating in a research note on Thursday, February 27th. The Goldman Sachs Group reduced their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. Finally, Susquehanna dropped their price objective on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.44.

Impinj Price Performance

PI traded up $2.64 during trading hours on Friday, hitting $68.67. 671,217 shares of the stock were exchanged, compared to its average volume of 583,776. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The stock has a 50-day simple moving average of $87.58 and a 200-day simple moving average of $142.47. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 50.49 and a beta of 1.74.

Impinj (NASDAQ:PI - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Sell-side analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Impinj Company 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.