Impinj, Inc. (NASDAQ:PI) Shares Bought by Eagle Asset Management Inc.

Eagle Asset Management Inc. raised its position in Impinj, Inc. (NASDAQ:PIFree Report) by 19.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 204,767 shares of the company’s stock after acquiring an additional 33,504 shares during the period. Eagle Asset Management Inc. owned approximately 0.76% of Impinj worth $18,435,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PI. FMR LLC increased its holdings in shares of Impinj by 0.8% in the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after purchasing an additional 31,289 shares in the last quarter. Sylebra Capital LLC purchased a new position in Impinj during the 3rd quarter valued at about $217,290,000. Westfield Capital Management Co. LP increased its holdings in Impinj by 40.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after acquiring an additional 292,470 shares in the last quarter. Fred Alger Management LLC increased its holdings in Impinj by 249.6% during the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after acquiring an additional 568,301 shares in the last quarter. Finally, AWM Investment Company Inc. increased its holdings in Impinj by 9.5% during the 3rd quarter. AWM Investment Company Inc. now owns 365,428 shares of the company’s stock valued at $20,110,000 after acquiring an additional 31,556 shares in the last quarter.

Insiders Place Their Bets

In other news, CEO Chris Ph.D. Diorio sold 612 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $123.56, for a total value of $75,618.72. Following the transaction, the chief executive officer now directly owns 279,813 shares in the company, valued at approximately $34,573,694.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Impinj news, CEO Chris Ph.D. Diorio sold 612 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $123.56, for a total transaction of $75,618.72. Following the sale, the chief executive officer now directly owns 279,813 shares in the company, valued at approximately $34,573,694.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Cary Baker sold 306 shares of Impinj stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $123.55, for a total transaction of $37,806.30. Following the completion of the transaction, the chief financial officer now directly owns 65,748 shares in the company, valued at approximately $8,123,165.40. The disclosure for this sale can be found here. Insiders sold a total of 82,054 shares of company stock valued at $11,827,880 in the last ninety days. Corporate insiders own 51.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PI. Susquehanna raised their target price on shares of Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a report on Tuesday, April 23rd. Evercore ISI started coverage on shares of Impinj in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 target price for the company. Needham & Company LLC increased their price target on Impinj from $160.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Finally, Piper Sandler reiterated an “overweight” rating and set a $150.00 target price (up from $130.00) on shares of Impinj in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.10.

Read Our Latest Stock Analysis on PI

Impinj Stock Up 0.2 %

Shares of PI traded up $0.29 during mid-day trading on Friday, reaching $163.67. 337,918 shares of the stock traded hands, compared to its average volume of 413,908. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of -467.63 and a beta of 1.85. The stock has a fifty day simple moving average of $144.97 and a 200 day simple moving average of $113.39. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $175.41.

Impinj (NASDAQ:PIGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The business had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. Sell-side analysts expect that Impinj, Inc. will post 0.02 EPS for the current fiscal year.

Impinj Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Impinj (NASDAQ:PI)

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