Jackson Creek Investment Advisors LLC Makes New $1.13 Million Investment in Impinj, Inc. (NASDAQ:PI)

Jackson Creek Investment Advisors LLC bought a new position in Impinj, Inc. (NASDAQ:PI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,754 shares of the company's stock, valued at approximately $1,126,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its stake in shares of Impinj by 0.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock worth $1,612,000 after buying an additional 100 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Impinj in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC lifted its holdings in shares of Impinj by 1,084.6% in 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. KBC Group NV grew its position in Impinj by 29.7% in the third quarter. KBC Group NV now owns 681 shares of the company's stock worth $147,000 after acquiring an additional 156 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Impinj by 2.4% during the fourth quarter. Arizona State Retirement System now owns 6,945 shares of the company's stock worth $1,009,000 after acquiring an additional 160 shares during the last quarter.

Impinj Price Performance

Shares of NASDAQ:PI traded down $6.11 during trading on Tuesday, reaching $94.60. 620,706 shares of the company were exchanged, compared to its average volume of 524,717. The business's fifty day simple moving average is $120.53 and its 200-day simple moving average is $164.17. Impinj, Inc. has a 12-month low of $84.17 and a 12-month high of $239.88. The firm has a market capitalization of $2.70 billion, a PE ratio of 69.56 and a beta of 1.98.

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Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, sell-side analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Insider Activity

In other news, CRO Jeffrey Dossett sold 580 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $84,714.80. Following the completion of the sale, the executive now owns 66,180 shares in the company, valued at approximately $9,666,250.80. This represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of the firm's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $30,672.60. Following the completion of the sale, the insider now directly owns 6,979 shares of the company's stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,323 shares of company stock worth $2,454,588. 51.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PI. StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Needham & Company LLC lowered their price target on Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group dropped their price objective on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Cantor Fitzgerald raised shares of Impinj to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Susquehanna dropped their price target on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $180.10.

Impinj 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.