Maryland State Retirement & Pension System Has $611,000 Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Maryland State Retirement & Pension System cut its stake in shares of Impinj, Inc. (NASDAQ:PI) by 12.8% during the first quarter, Holdings Channel reports. The firm owned 6,732 shares of the company’s stock after selling 985 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Impinj were worth $611,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Deutsche Bank AG raised its position in Impinj by 12.2% during the first quarter. Deutsche Bank AG now owns 132,882 shares of the company’s stock valued at $12,052,000 after buying an additional 14,406 shares during the period. Charles Schwab Investment Management Inc. raised its position in Impinj by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 214,483 shares of the company’s stock valued at $19,454,000 after buying an additional 1,085 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in Impinj during the first quarter valued at $952,000. Shufro Rose & Co. LLC raised its position in Impinj by 235.3% during the first quarter. Shufro Rose & Co. LLC now owns 5,700 shares of the company’s stock valued at $517,000 after buying an additional 4,000 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in Impinj during the first quarter valued at $118,000.

Impinj Stock Performance

Shares of NASDAQ PI opened at $169.93 on Thursday. The business’s 50-day moving average price is $122.65 and its two-hundred day moving average price is $106.49. The company has a debt-to-equity ratio of 1.51, a current ratio of 11.64 and a quick ratio of 8.44. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88. The company has a market capitalization of $4.94 billion, a P/E ratio of 17,010.01 and a beta of 1.74.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The business had revenue of $97.89 million for the quarter, compared to analyst estimates of $93.78 million. Impinj had a return on equity of 8.14% and a net margin of 0.18%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 EPS. Analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Susquehanna upped their price target on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Tuesday, July 22nd. Piper Sandler upped their price target on Impinj from $140.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Cantor Fitzgerald upped their price target on Impinj from $133.00 to $158.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Needham & Company LLC boosted their target price on Impinj from $115.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Finally, Evercore ISI boosted 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $163.29.

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.