Impinj, Inc. (NASDAQ:PI) Stake Lifted by Fmr LLC

FMR LLC grew its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,217,403 shares of the company's stock after purchasing an additional 60,461 shares during the quarter. FMR LLC owned about 14.91% of Impinj worth $913,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new stake in Impinj during the second quarter worth about $103,252,000. Jennison Associates LLC increased its holdings in shares of Impinj by 15.0% during the 3rd quarter. Jennison Associates LLC now owns 239,140 shares of the company's stock worth $51,779,000 after buying an additional 31,269 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Impinj by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company's stock valued at $41,840,000 after buying an additional 6,232 shares during the period. Renaissance Technologies LLC acquired a new position in Impinj in the second quarter valued at approximately $30,116,000. Finally, Emerald Advisers LLC grew its position in Impinj by 8.2% in the third quarter. Emerald Advisers LLC now owns 182,481 shares of the company's stock worth $39,511,000 after acquiring an additional 13,884 shares during the period.

Analysts Set New Price Targets

PI has been the subject of a number of analyst reports. Piper Sandler reissued an "overweight" rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a research report 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 report on Friday, October 25th. Cantor Fitzgerald raised their price target on Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Lake Street Capital upped their price objective on Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC lifted 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Impinj has an average rating of "Moderate Buy" and a consensus target price of $224.60.

Impinj Stock Down 3.2 %

Shares of NASDAQ:PI traded down $6.32 during trading on Thursday, reaching $189.25. The stock had a trading volume of 225,024 shares, compared to its average volume of 470,404. The stock has a market cap of $5.35 billion, a P/E ratio of 212.64 and a beta of 1.81. The business has a fifty day moving average price of $206.14 and a 200-day moving average price of $177.58. 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 issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned ($0.36) EPS. The firm's quarterly revenue was up 46.5% on a year-over-year basis. As a group, equities analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Insider Activity

In related news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. This represents a 14.81 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Cathal G. Phelan sold 209 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the sale, the insider now directly owns 17,647 shares of the company's stock, valued at $3,690,870.05. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 655,674 shares of company stock valued at $131,623,305 in the last three months. Corporate 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.