Charles Schwab Investment Management Inc. Acquires 6,232 Shares of Impinj, Inc. (NASDAQ:PI)

Charles Schwab Investment Management Inc. increased its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,240 shares of the company's stock after acquiring an additional 6,232 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.68% of Impinj worth $41,840,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PI. Price T Rowe Associates Inc. MD lifted its position in shares of Impinj by 6.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,827 shares of the company's stock valued at $1,904,000 after acquiring an additional 850 shares in the last quarter. DNB Asset Management AS purchased a new stake in Impinj in the 2nd quarter worth about $321,000. Harbor Capital Advisors Inc. grew its stake in Impinj by 112.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company's stock valued at $2,122,000 after acquiring an additional 7,151 shares in the last quarter. Jamison Private Wealth Management Inc. increased its holdings in shares of Impinj by 211.2% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company's stock valued at $127,000 after purchasing an additional 549 shares during the period. Finally, SG Americas Securities LLC lifted its position 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 purchasing an additional 18,264 shares in the last quarter.

Impinj Price Performance

Shares of PI stock traded up $0.66 during trading hours on Tuesday, reaching $188.21. 435,824 shares of the company were exchanged, compared to its average volume of 468,703. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 211.47 and a beta of 1.80. The stock's fifty day moving average is $205.53 and its two-hundred day moving average is $178.02. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88.

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

Insiders Place Their Bets

In other Impinj news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the business's stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, with a total value 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. This trade represents a 14.81 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Jeffrey Dossett sold 7,500 shares of the company's stock in a transaction on Thursday, November 14th. The shares were 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 owns 65,294 shares in the company, valued at approximately $11,829,313.98. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 655,674 shares of company stock valued at $131,623,305 in the last quarter. 51.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PI. Needham & Company LLC boosted their target price on Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Cantor Fitzgerald increased their price objective on Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Susquehanna lifted their target price on shares of Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a research note on Monday, October 21st. Lake Street Capital boosted their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $235.00 price objective (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $224.60.

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.