Telemark Asset Management LLC Makes New $12.99 Million Investment in Impinj, Inc. (NASDAQ:PI)

Telemark Asset Management LLC bought a new position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 60,000 shares of the company's stock, valued at approximately $12,991,000. Impinj comprises 1.3% of Telemark Asset Management LLC's holdings, making the stock its 27th largest holding. Telemark Asset Management LLC owned about 0.21% of Impinj as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock worth $33,000 after acquiring an additional 141 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Impinj in the 3rd quarter worth approximately $54,000. SouthState Corp acquired a new position in Impinj during the 2nd quarter valued at approximately $94,000. Asset Management One Co. Ltd. acquired a new position in shares of Impinj during the third quarter valued at $138,000. Finally, USA Financial Formulas boosted its stake in Impinj by 82.0% during the 3rd 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.

Analyst Ratings Changes

Several research firms have recently issued reports on PI. Evercore ISI reiterated an "outperform" rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. Roth Mkm upped their price target on shares of Impinj from $145.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, July 25th. The Goldman Sachs Group lifted their price objective on shares of Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. Finally, Needham & Company LLC raised their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. One 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 company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $224.60.

Impinj Trading Up 1.5 %

PI traded up $2.74 during trading on Friday, hitting $191.04. The stock had a trading volume of 302,237 shares, compared to its average volume of 472,214. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88. The company has a 50 day simple moving average of $206.07 and a 200-day simple moving average of $176.56. The firm has a market cap of $5.40 billion, a PE ratio of 211.57 and a beta of 1.81.

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

Insider Buying and Selling at Impinj

In related news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Jeffrey Dossett sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00. Following the transaction, the executive now owns 65,294 shares of the company's stock, valued at $11,829,313.98. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 655,674 shares of company stock valued at $131,623,305 in the last quarter. Corporate insiders own 51.00% of the company's stock.

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.