Consolidated Portfolio Review Corp Purchases Shares of 8,595 Impinj, Inc. (NASDAQ:PI)

Consolidated Portfolio Review Corp bought a new position in Impinj, Inc. (NASDAQ:PI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,595 shares of the company’s stock, valued at approximately $1,861,000.

Other hedge funds have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj during the 1st quarter worth about $32,000. SouthState Corp acquired a new position in Impinj in the 2nd quarter valued at about $94,000. nVerses Capital LLC raised its holdings in 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 acquiring an additional 300 shares during the period. Jamison Private Wealth Management Inc. lifted its position in Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after acquiring an additional 549 shares during the last quarter. Finally, USA Financial Formulas boosted its holdings in shares of Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after acquiring an additional 296 shares during the period.

Insider Transactions at Impinj

In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other Impinj news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total value of $2,367,150.00. Following the sale, the executive now owns 63,642 shares of the company’s stock, valued at $10,043,344.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,779 shares of company stock valued at $3,825,046 in the last 90 days. 51.00% of the stock is currently owned by corporate insiders.

Impinj Stock Performance

Shares of NASDAQ:PI traded up $8.49 during midday trading on Friday, reaching $200.70. The company’s stock had a trading volume of 1,097,652 shares, compared to its average volume of 469,581. The firm has a 50 day moving average price of $196.40 and a two-hundred day moving average price of $168.96. Impinj, Inc. has a fifty-two week low of $58.56 and a fifty-two week high of $239.88. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 692.07 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm 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 business earned ($0.36) EPS. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. As a group, research analysts anticipate that Impinj, Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on PI. Lake Street Capital lifted their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI reiterated an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday. Piper Sandler restated an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a research report on Thursday. The Goldman Sachs Group boosted their price target on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday. Finally, 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 note on Monday, October 21st. 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 data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and an average target price of $224.60.

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.