Mutual of America Capital Management LLC Acquires New Holdings in Impinj, Inc. (NASDAQ:PI)

Mutual of America Capital Management LLC bought a new position in Impinj, Inc. (NASDAQ:PI - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,425 shares of the company's stock, valued at approximately $742,000.

Several other institutional investors have also made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in 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 in the last quarter. Future Financial Wealth Managment LLC acquired a new position in Impinj during the third quarter worth $54,000. SouthState Corp bought a new position in shares of Impinj in the 2nd quarter valued at about $94,000. nVerses Capital LLC lifted its stake in Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company's stock valued at $110,000 after purchasing an additional 300 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. increased its position in Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company's stock worth $127,000 after buying an additional 549 shares during the last quarter.

Impinj Stock Performance

Impinj stock traded down $6.32 during midday trading on Wednesday, reaching $189.25. 224,811 shares of the stock were exchanged, compared to its average volume of 470,404. The firm has a market cap of $5.35 billion, a PE ratio of 212.64 and a beta of 1.81. The company's fifty day moving average is $206.38 and its 200-day moving average is $177.50. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same period in the previous year, the business earned ($0.36) earnings per share. The firm's quarterly revenue was up 46.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on PI shares. The Goldman Sachs Group boosted their price target on Impinj from $165.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Cantor Fitzgerald upped their price target on shares of Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. Susquehanna increased their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a research report on Monday, October 21st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $235.00 price target (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company's 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.

Insider Activity at Impinj

In related news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company's stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 14.81 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the sale, the chief executive officer now owns 292,532 shares of the company's stock, valued at $61,174,291.84. This trade represents a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 655,674 shares of company stock worth $131,623,305 in the last ninety days. 51.00% of the stock is owned by company insiders.

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.