Jennison Associates LLC Purchases 31,269 Shares of Impinj, Inc. (NASDAQ:PI)

Jennison Associates LLC raised its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 15.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 239,140 shares of the company's stock after acquiring an additional 31,269 shares during the period. Jennison Associates LLC owned approximately 0.85% of Impinj worth $51,779,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PI. Assenagon Asset Management S.A. acquired a new position in shares of Impinj in the second quarter valued at about $103,252,000. Renaissance Technologies LLC acquired a new position in Impinj in the second quarter valued at about $30,116,000. Principal Financial Group Inc. raised its position in shares of 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 buying an additional 122,579 shares in the last quarter. AXA S.A. acquired a new stake in shares of Impinj during the 2nd quarter worth approximately $11,574,000. Finally, Squarepoint Ops LLC increased its stake in Impinj by 501.9% in the second quarter. Squarepoint Ops LLC now owns 69,232 shares of the company's stock valued at $10,854,000 after acquiring an additional 57,730 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Evercore ISI reaffirmed an "outperform" rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Lake Street Capital raised their price target on shares of Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Roth Mkm upped 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. The Goldman Sachs Group increased their price objective on shares of Impinj from $165.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Finally, Susquehanna boosted their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $224.60.

Insider Activity

In other news, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction on 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 transaction, the executive now owns 65,294 shares of the company's stock, valued at $11,829,313.98. This represents a 10.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business's stock in a transaction dated Friday, September 13th. The stock was purchased at an average price of $4.69 per share, with a total value 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. This represents a 14.81 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 655,674 shares of company stock worth $131,623,305. 51.00% of the stock is owned by company insiders.

Impinj Stock Performance

Impinj stock traded up $4.16 during mid-day trading on Friday, reaching $192.46. The stock had a trading volume of 147,533 shares, compared to its average volume of 471,532. The stock's 50-day simple moving average is $206.07 and its 200-day simple moving average is $176.56. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The firm has a market capitalization of $5.44 billion, a PE ratio of 211.57 and a beta of 1.81.

Impinj (NASDAQ:PI - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million for 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 was up 46.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.36) EPS. On average, research analysts forecast that Impinj, Inc. will post 0.4 earnings per share 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.