Geode Capital Management LLC Has $117.58 Million Stock Position in Impinj, Inc. (NASDAQ:PI)

Geode Capital Management LLC grew its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 1.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 542,924 shares of the company's stock after buying an additional 7,676 shares during the period. Geode Capital Management LLC owned approximately 1.92% of Impinj worth $117,576,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Bank of Canada FI purchased a new position in Impinj in the 3rd quarter valued at approximately $30,000. Farther Finance Advisors LLC lifted its stake in Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock worth $33,000 after purchasing an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Impinj in the 3rd quarter worth approximately $54,000. SouthState Corp purchased a new position in shares of Impinj in the second quarter valued at about $94,000. Finally, nVerses Capital LLC grew its position in shares of Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company's stock worth $110,000 after buying an additional 300 shares during the last quarter.

Insider Buying and Selling at Impinj

In related news, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $181.17, for a total value of $1,358,775.00. Following the completion of the transaction, the executive now owns 65,294 shares in the company, valued at $11,829,313.98. This represents a 10.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Sylebra Capital Llc sold 32,031 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total value of $6,257,255.85. Following the sale, the insider now owns 3,021,548 shares in the company, valued at approximately $590,259,401.80. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Impinj Stock Performance

NASDAQ PI opened at $148.06 on Wednesday. The firm's fifty day moving average is $194.11 and its two-hundred day moving average is $177.81. Impinj, Inc. has a one year low of $78.17 and a one year high of $239.88. The firm has a market cap of $4.19 billion, a PE ratio of 166.36 and a beta of 1.80.

Impinj (NASDAQ:PI - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analyst estimates 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 prior year, the firm earned ($0.36) EPS. Research analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PI shares. Cantor Fitzgerald boosted their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Needham & Company LLC lifted their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Lake Street Capital raised their target price on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Piper Sandler reiterated an "overweight" rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group upped their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $224.60.

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.