Teachers Retirement System of The State of Kentucky Takes $846,000 Position in Impinj, Inc. (NASDAQ:PI)

Teachers Retirement System of The State of Kentucky bought a new stake in Impinj, Inc. (NASDAQ:PI - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,906 shares of the company's stock, valued at approximately $846,000.

A number of other large investors have also recently made changes to their positions in the company. National Bank of Canada FI acquired a new stake in Impinj during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC grew its position 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 buying an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Impinj in the 3rd quarter valued at $54,000. SouthState Corp acquired a new position in Impinj in the 2nd quarter valued at $94,000. Finally, nVerses Capital LLC raised its position in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company's stock worth $110,000 after buying an additional 300 shares during the last quarter.

Impinj Price Performance

PI traded up $0.82 during trading on Thursday, reaching $142.63. 760,877 shares of the stock were exchanged, compared to its average volume of 481,029. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 160.26 and a beta of 1.80. Impinj, Inc. has a 1 year low of $78.17 and a 1 year high of $239.88. The business's 50 day moving average price is $192.37 and its two-hundred day moving average price is $177.56.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 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 business had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same period in the previous year, the firm earned ($0.36) EPS. The business's revenue for the quarter was up 46.5% compared to the same quarter last year. On average, analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on PI shares. Cantor Fitzgerald lifted their target price on shares of Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Lake Street Capital boosted their target price on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Needham & Company LLC increased their target price on Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Susquehanna lifted their price target on Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a research note on Monday, October 21st. Finally, Evercore ISI reiterated an "outperform" rating and issued a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $224.60.

Insider Activity

In other news, major shareholder Sylebra Capital Llc sold 32,031 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total value of $6,257,255.85. Following the sale, the insider now directly owns 3,021,548 shares in the company, valued at $590,259,401.80. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the sale, the insider now owns 17,647 shares of the company's stock, valued at approximately $3,690,870.05. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 655,674 shares of company stock worth $131,623,305 over the last ninety days. 51.00% of the stock is currently owned by insiders.

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.