Los Angeles Capital Management LLC Acquires 5,807 Shares of Impinj, Inc. (NASDAQ:PI)

Los Angeles Capital Management LLC raised its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 210.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 8,569 shares of the company's stock after buying an additional 5,807 shares during the period. Los Angeles Capital Management LLC's holdings in Impinj were worth $1,855,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock valued at $33,000 after acquiring an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in Impinj during the third quarter worth about $54,000. SouthState Corp acquired a new position in shares of Impinj during the 2nd quarter worth about $94,000. Asset Management One Co. Ltd. acquired a new stake in shares of Impinj in the 3rd quarter valued at approximately $138,000. Finally, USA Financial Formulas boosted its stake in Impinj by 82.0% during the 3rd quarter. USA Financial Formulas now owns 657 shares of the company's stock worth $142,000 after acquiring an additional 296 shares during the last quarter.

Wall Street Analysts Forecast Growth

PI has been the subject of several research reports. Roth Mkm increased their price objective on shares of Impinj from $145.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Evercore ISI reaffirmed an "outperform" rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. The Goldman Sachs Group upped their target price on Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Piper Sandler reaffirmed an "overweight" rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald boosted their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Impinj presently has a consensus rating of "Moderate Buy" and an average target price of $224.60.

Impinj Stock Performance

NASDAQ:PI traded down $3.03 during mid-day trading on Thursday, reaching $182.73. 451,911 shares of the company's stock were exchanged, compared to its average volume of 473,672. The firm has a market capitalization of $5.17 billion, a PE ratio of 202.19 and a beta of 1.81. Impinj, Inc. has a one year low of $78.17 and a one year high of $239.88. The business's fifty day simple moving average is $204.99 and its two-hundred day simple moving average is $175.70.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm's quarterly revenue was up 46.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.36) earnings per share. As a group, equities research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Insider Activity at Impinj

In related news, major shareholder Sylebra Capital Llc sold 78,616 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $201.79, for a total value of $15,863,922.64. Following the sale, the insider now directly owns 2,143,736 shares of the company's stock, valued at $432,584,487.44. This trade represents a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Jeffrey Dossett sold 488 shares of the business's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.84, for a total value of $116,065.92. Following the transaction, the executive now directly owns 65,294 shares of the company's stock, valued at approximately $15,529,524.96. The trade was a 0.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 646,301 shares of company stock valued at $129,876,220 over the last quarter. 51.00% of the stock is owned by corporate insiders.

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.