Lisanti Capital Growth LLC Sells 5,715 Shares of Impinj, Inc. (NASDAQ:PI)

Lisanti Capital Growth LLC reduced its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 14.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,505 shares of the company's stock after selling 5,715 shares during the quarter. Impinj accounts for approximately 1.9% of Lisanti Capital Growth LLC's holdings, making the stock its 5th biggest position. Lisanti Capital Growth LLC owned about 0.12% of Impinj worth $7,471,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Los Angeles Capital Management LLC lifted 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 valued at $1,855,000 after buying an additional 5,807 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Impinj by 5.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 12,207 shares of the company's stock worth $2,643,000 after purchasing an additional 644 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Impinj in the third quarter worth about $371,000. Mayflower Financial Advisors LLC purchased a new stake in Impinj during the 3rd quarter valued at $241,000. Finally, Verdence Capital Advisors LLC purchased a new position in Impinj during the third quarter worth $260,000.

Insider Buying and Selling at Impinj

In related news, CRO Jeffrey Dossett sold 488 shares of the firm's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.84, for a total transaction of $116,065.92. Following the sale, the executive now directly owns 65,294 shares in the company, valued at approximately $15,529,524.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Cathal G. Phelan sold 11,549 shares of Impinj stock in a transaction on Friday, November 8th. The stock was sold at an average price of $200.81, for a total value of $2,319,154.69. Following the transaction, the insider now directly owns 6,098 shares in the company, valued at $1,224,539.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Jeffrey Dossett sold 488 shares of the business's stock in a transaction 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 sale, the executive now directly owns 65,294 shares in the company, valued at $15,529,524.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 317,685 shares of company stock worth $63,262,298. Corporate insiders own 51.00% of the company's stock.

Impinj Price Performance

Shares of NASDAQ PI traded down $2.32 during mid-day trading on Monday, hitting $201.24. The company had a trading volume of 349,883 shares, compared to its average volume of 473,229. Impinj, Inc. has a 1-year low of $69.50 and a 1-year high of $239.88. The company has a market capitalization of $5.69 billion, a PE ratio of 228.88 and a beta of 1.81. The business's 50-day simple moving average is $203.31 and its 200 day simple moving average is $175.01.

Impinj (NASDAQ:PI - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same period last year, the firm posted ($0.36) EPS. The company's revenue was up 46.5% on a year-over-year basis. On average, analysts expect that Impinj, Inc. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on PI. Needham & Company LLC lifted their target price on Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Roth Mkm lifted their price target on shares of Impinj from $145.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Evercore ISI reissued an "outperform" rating and issued a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Susquehanna upped their target price on Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a report on Monday, October 21st. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $224.60.

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.