Public Sector Pension Investment Board purchased a new position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,300 shares of the company's stock, valued at approximately $10,458,000. Public Sector Pension Investment Board owned approximately 0.17% of Impinj at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its position in shares of Impinj by 210.2% in the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company's stock valued at $1,855,000 after purchasing an additional 5,807 shares during the period. SG Americas Securities LLC lifted its holdings in Impinj by 457.1% during the 2nd quarter. SG Americas Securities LLC now owns 22,260 shares of the company's stock worth $3,490,000 after purchasing an additional 18,264 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in Impinj in the 3rd quarter valued at $3,872,000. Principal Financial Group Inc. boosted its stake in 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 purchasing an additional 122,579 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in Impinj by 112.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company's stock valued at $2,122,000 after buying an additional 7,151 shares in the last quarter.
Analysts Set New Price Targets
A number of brokerages have issued reports on PI. Cantor Fitzgerald increased their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Lake Street Capital increased their target price on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Needham & Company LLC raised their target price on shares of Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, Evercore ISI reiterated an "outperform" rating and set a $270.00 price target (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $224.60.
Read Our Latest Report on Impinj
Impinj Trading Up 1.6 %
NASDAQ:PI traded up $2.96 on Friday, reaching $192.21. 107,709 shares of the stock traded hands, compared to its average volume of 468,834. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 215.97 and a beta of 1.81. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88. The company's 50 day moving average is $205.94 and its 200-day moving average is $177.80.
Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly 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 during 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 business's revenue was up 46.5% compared to the same quarter last year. During the same period last year, the business posted ($0.36) EPS. On average, equities research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current fiscal year.
Insider Buying and Selling at Impinj
In other Impinj news, CEO Chris Ph.D. Diorio sold 1,498 shares of the firm's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total value of $313,261.76. Following the transaction, the chief executive officer now directly owns 292,532 shares of the company's stock, valued at approximately $61,174,291.84. This trade represents a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The shares were acquired 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 of the company's stock, valued at approximately $155,006,638.64. The trade was a 14.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 655,674 shares of company stock valued at $131,623,305. Corporate insiders own 51.00% of the company's stock.
Impinj Company Profile
(
Free Report)
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.
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