Intech Investment Management LLC Purchases Shares of 6,636 Impinj, Inc. (NASDAQ:PI)

Intech Investment Management LLC bought a new stake in Impinj, Inc. (NASDAQ:PI - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,636 shares of the company's stock, valued at approximately $1,437,000.

Other large investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC raised its stake in shares of Impinj by 210.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company's stock worth $1,855,000 after buying an additional 5,807 shares in the last quarter. SG Americas Securities LLC increased its stake in Impinj by 457.1% in the 2nd quarter. SG Americas Securities LLC now owns 22,260 shares of the company's stock valued at $3,490,000 after purchasing an additional 18,264 shares in the last quarter. Principal Financial Group Inc. increased its stake in Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company's stock valued at $27,202,000 after purchasing an additional 122,579 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Impinj by 112.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company's stock valued at $2,122,000 after purchasing an additional 7,151 shares in the last quarter. Finally, Raymond James & Associates increased its stake in Impinj by 21.7% in the 3rd quarter. Raymond James & Associates now owns 22,951 shares of the company's stock valued at $4,969,000 after purchasing an additional 4,090 shares in the last quarter.

Insider Buying and Selling at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the transaction, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 14.81 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Jeffrey Dossett sold 488 shares of the business's stock in a transaction that occurred on 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 owns 65,294 shares of the company's stock, valued at approximately $15,529,524.96. This represents a 0.74 % 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 worth $131,623,305 over the last ninety days. Company insiders own 51.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PI. Evercore ISI reiterated an "outperform" rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. The Goldman Sachs Group increased their target price on Impinj from $165.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Piper Sandler reiterated an "overweight" rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Cantor Fitzgerald increased their target price on Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Finally, Lake Street Capital increased their target price on Impinj from $190.00 to $251.00 and gave the company a "buy" rating 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $224.60.

Impinj Stock Performance

Shares of NASDAQ PI traded up $1.94 during midday trading on Tuesday, reaching $195.57. 283,770 shares of the company's stock were exchanged, compared to its average volume of 471,475. Impinj, Inc. has a 52-week low of $78.17 and a 52-week high of $239.88. The stock has a market capitalization of $5.53 billion, a PE ratio of 217.56 and a beta of 1.81. The business's fifty day moving average price is $206.31 and its two-hundred day moving average price is $177.17.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly 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 business had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company's revenue for the quarter was up 46.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.36) earnings per share. Analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

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.