TimesSquare Capital Management LLC Increases Holdings in Impinj, Inc. (NASDAQ:PI)

TimesSquare Capital Management LLC raised its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 92.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 140,812 shares of the company's stock after purchasing an additional 67,510 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.50% of Impinj worth $20,454,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI bought a new stake in Impinj in the third quarter valued at about $30,000. Farther Finance Advisors LLC increased its holdings in Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. Spire Wealth Management bought a new stake in Impinj in the fourth quarter valued at about $87,000. KBC Group NV increased its holdings in Impinj by 33.5% in the fourth quarter. KBC Group NV now owns 909 shares of the company's stock valued at $132,000 after purchasing an additional 228 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in Impinj in the third quarter valued at about $138,000.

Insider Activity

In related news, CEO Chris Ph.D. Diorio sold 1,504 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.22, for a total transaction of $219,914.88. Following the transaction, the chief executive officer now directly owns 331,572 shares of the company's stock, valued at approximately $48,482,457.84. This represents a 0.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jeffrey Dossett sold 580 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $84,714.80. Following the sale, the executive now directly owns 66,180 shares of the company's stock, valued at $9,666,250.80. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,466 shares of company stock valued at $789,298 in the last ninety days. 51.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on PI. Susquehanna dropped their price objective on Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a report on Wednesday, January 22nd. Cantor Fitzgerald decreased their target price on Impinj from $260.00 to $133.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Needham & Company LLC decreased their target price on Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group decreased their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Finally, Evercore ISI reissued an "outperform" rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $180.10.

Impinj Price Performance

PI stock traded down $3.45 during midday trading on Friday, reaching $97.37. 297,746 shares of the stock were exchanged, compared to its average volume of 766,791. The stock has a market capitalization of $2.78 billion, a PE ratio of 71.57 and a beta of 1.88. Impinj, Inc. has a 52 week low of $96.97 and a 52 week high of $239.88. The company has a fifty day moving average price of $133.21 and a 200 day moving average price of $168.90.

Impinj (NASDAQ:PI - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. As a group, analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

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.