Y Intercept Hong Kong Ltd Sells 3,903 Shares of Impinj, Inc. (NASDAQ:PI)

Y Intercept Hong Kong Ltd decreased its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 60.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,568 shares of the company's stock after selling 3,903 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Impinj were worth $556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PI. National Bank of Canada FI acquired a new stake in shares of Impinj in the 3rd quarter valued at approximately $30,000. Farther Finance Advisors LLC raised 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 worth $33,000 after purchasing an additional 141 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Impinj in the third quarter worth $54,000. SouthState Corp bought a new position in shares of Impinj during the second quarter worth $94,000. Finally, nVerses Capital LLC grew its holdings in shares of Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company's stock valued at $110,000 after buying an additional 300 shares during the period.

Insiders Place Their Bets

In other Impinj news, CRO Jeffrey Dossett sold 488 shares of the company's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $237.84, for a total value of $116,065.92. Following the transaction, the executive now directly owns 65,294 shares of the company's stock, valued at $15,529,524.96. This represents a 0.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 22,373 shares of Impinj stock in a transaction on Friday, November 1st. The stock was sold at an average price of $195.00, for a total value of $4,362,735.00. Following the sale, the insider now directly owns 2,999,175 shares of the company's stock, valued at $584,839,125. This represents a 0.74 % 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 over the last ninety days. 51.00% of the stock is currently owned by company insiders.

Impinj Price Performance

NASDAQ PI traded down $0.83 on Monday, hitting $150.15. 1,019,954 shares of the stock were exchanged, compared to its average volume of 478,972. The company has a market capitalization of $4.25 billion, a PE ratio of 168.71 and a beta of 1.80. The business's fifty day moving average is $196.98 and its 200 day moving average is $178.01. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last issued its earnings results 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. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company had revenue of $95.20 million for the quarter, compared to analysts' expectations of $92.86 million. During the same period in the prior year, the firm earned ($0.36) EPS. Impinj's quarterly revenue was up 46.5% compared to the same quarter last year. Analysts predict that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PI. Susquehanna increased their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a research report on Monday, October 21st. Evercore ISI reissued an "outperform" rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price target on Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Piper Sandler reaffirmed an "overweight" rating and set a $235.00 price target (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, Lake Street Capital boosted their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a "buy" rating 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $224.60.

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.