3,708 Shares in Impinj, Inc. (NASDAQ:PI) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) in the first quarter, HoldingsChannel reports. The institutional investor purchased 3,708 shares of the company’s stock, valued at approximately $336,000.

Other large investors also recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in shares of Impinj during the fourth quarter worth approximately $29,000. GAMMA Investing LLC lifted its holdings in shares of Impinj by 68.7% during the first quarter. GAMMA Investing LLC now owns 722 shares of the company’s stock worth $65,000 after buying an additional 294 shares during the last quarter. KBC Group NV raised its stake in shares of Impinj by 35.0% in the first quarter. KBC Group NV now owns 1,227 shares of the company’s stock valued at $111,000 after purchasing an additional 318 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Impinj in the fourth quarter valued at $156,000. Finally, Versant Capital Management Inc raised its stake in shares of Impinj by 7.2% in the first quarter. Versant Capital Management Inc now owns 2,237 shares of the company’s stock valued at $203,000 after purchasing an additional 150 shares in the last quarter.

Impinj Stock Performance

Shares of NASDAQ:PI opened at $115.98 on Friday. The business’s fifty day moving average price is $113.63 and its two-hundred day moving average price is $106.80. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -2,898.78 and a beta of 1.64. The company has a debt-to-equity ratio of 1.77, a current ratio of 10.96 and a quick ratio of 7.46.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. The firm had revenue of $74.28 million for the quarter, compared to analysts’ expectations of $71.73 million. During the same period in the prior year, the business posted $0.21 earnings per share. The business’s revenue was down 3.3% compared to the same quarter last year. As a group, analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on PI. Evercore ISI upped their target price on Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $133.00 target price on shares of Impinj in a research note on Thursday, April 24th. Needham & Company LLC cut their target price on Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, Piper Sandler restated an “overweight” rating and issued a $100.00 target price on shares of Impinj in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.38.

Impinj Company 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.