Quantbot Technologies LP Sells 12,670 Shares of Impinj, Inc. (NASDAQ:PI)

Quantbot Technologies LP reduced its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 45.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,493 shares of the company's stock after selling 12,670 shares during the period. Quantbot Technologies LP owned 0.05% of Impinj worth $3,355,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co increased its stake in shares of Impinj by 165.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 5,343 shares of the company's stock worth $685,000 after purchasing an additional 3,327 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Impinj by 6.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,827 shares of the company's stock worth $1,904,000 after buying an additional 850 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Impinj in the first quarter valued at about $228,000. Virtu Financial LLC acquired a new position in shares of Impinj in the first quarter valued at about $334,000. Finally, DNB Asset Management AS bought a new position in Impinj during the second quarter worth about $321,000.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PI. Needham & Company LLC boosted their price objective on shares of Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Evercore ISI reiterated an "outperform" rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Cantor Fitzgerald raised their price objective on Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Susquehanna lifted their price objective on Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a report on Monday, October 21st. Finally, Piper Sandler reissued an "overweight" rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. One equities research 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. Based on data from MarketBeat, Impinj presently has an average rating of "Moderate Buy" and a consensus target price of $224.60.

Insider Buying and Selling at Impinj

In related news, insider Cathal G. Phelan sold 209 shares of Impinj 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 sale, the insider now directly owns 17,647 shares in the company, valued at $3,690,870.05. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction 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 completion of the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The trade was a 14.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 655,674 shares of company stock worth $131,623,305 over the last quarter. Corporate insiders own 51.00% of the company's stock.

Impinj Price Performance

Shares of PI stock traded down $6.32 on Thursday, hitting $189.25. 225,024 shares of the company's stock were exchanged, compared to its average volume of 470,404. The company has a 50 day moving average of $206.14 and a 200 day moving average of $177.58. The stock has a market cap of $5.35 billion, a P/E ratio of 212.64 and a beta of 1.81. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million during the quarter, compared to analysts' expectations of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business's revenue for the quarter was up 46.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.36) earnings per share. Sell-side analysts predict that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

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.