Thrivent Financial for Lutherans Invests $3.87 Million in Impinj, Inc. (NASDAQ:PI)

Thrivent Financial for Lutherans 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 Securities and Exchange Commission. The institutional investor bought 17,884 shares of the company's stock, valued at approximately $3,872,000. Thrivent Financial for Lutherans owned 0.06% of Impinj at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PI. First Bank & Trust lifted its holdings in shares of Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company's stock worth $383,000 after acquiring an additional 55 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Impinj by 1,084.6% during the 3rd 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 last quarter. KBC Group NV lifted its holdings in shares of Impinj by 29.7% during the 3rd quarter. KBC Group NV now owns 681 shares of the company's stock worth $147,000 after acquiring an additional 156 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company's stock valued at $432,000 after purchasing an additional 190 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings 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 buying an additional 248 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PI. Lake Street Capital lifted their price objective on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. Evercore ISI restated an "outperform" rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Piper Sandler reissued an "overweight" rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald raised their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $224.60.

Insider Activity

In other news, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the sale, the insider now owns 17,647 shares in the company, valued at $3,690,870.05. This trade represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock in a transaction 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 completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. The trade was a 14.81 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 655,674 shares of company stock worth $131,623,305 in the last three months. Company insiders own 51.00% of the company's stock.

Impinj Trading Up 1.4 %

PI stock traded up $2.59 on Monday, hitting $193.63. The company had a trading volume of 491,041 shares, compared to its average volume of 472,298. Impinj, Inc. has a 12-month low of $78.17 and a 12-month high of $239.88. The stock's 50-day simple moving average is $206.17 and its 200 day simple moving average is $176.92. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 215.71 and a beta of 1.81.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating 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 net margin of 8.21% and a negative return on equity of 1.64%. The company's revenue for the quarter was up 46.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.36) EPS. Research analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current year.

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.