Consolidated Portfolio Review Corp Makes New Investment in Impinj, Inc. (NASDAQ:PI)

Consolidated Portfolio Review Corp bought a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,595 shares of the company's stock, valued at approximately $1,861,000.

Several other institutional investors have also bought and sold shares of PI. Hsbc Holdings PLC increased its stake in Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company's stock valued at $432,000 after buying an additional 190 shares during the last quarter. Rhumbline Advisers grew its position in shares of Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company's stock valued at $5,158,000 after acquiring an additional 248 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Impinj in the 1st quarter worth approximately $32,000. Arizona State Retirement System lifted its stake in Impinj by 4.1% in the second quarter. Arizona State Retirement System now owns 6,581 shares of the company's stock valued at $1,032,000 after purchasing an additional 261 shares during the last quarter. Finally, USA Financial Formulas grew its holdings in Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company's stock valued at $142,000 after purchasing an additional 296 shares during the period.

Impinj Price Performance

Shares of NASDAQ:PI traded up $8.49 on Friday, hitting $200.70. The company's stock had a trading volume of 1,097,652 shares, compared to its average volume of 469,581. Impinj, Inc. has a 1 year low of $58.56 and a 1 year high of $239.88. The company has a market capitalization of $5.64 billion, a PE ratio of 692.07 and a beta of 1.80. The company has a 50-day simple moving average of $196.40 and a 200 day simple moving average of $169.26.

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, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. Impinj's revenue for the quarter was up 46.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.36) earnings per share. On average, equities research analysts expect that Impinj, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PI. Needham & Company LLC upped their price target on Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday. Susquehanna lifted their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a research note on Monday, October 21st. Piper Sandler reissued an "overweight" rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a report on Thursday. Evercore ISI reaffirmed an "outperform" rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday. Finally, Lake Street Capital increased their price objective on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $224.60.

Insider Buying and Selling at Impinj

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now directly owns 33,050,456 shares of the company's stock, valued at $155,006,638.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cathal G. Phelan sold 677 shares of Impinj stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $162.46, for a total value of $109,985.42. Following the completion of the transaction, the insider now owns 17,367 shares in the company, valued at approximately $2,821,442.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,779 shares of company stock worth $3,825,046 over the last 90 days. Corporate insiders own 51.00% of the company's stock.

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.