Impinj, Inc. (NASDAQ:PI) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Impinj, Inc. (NASDAQ:PI) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542,924 shares of the company’s stock after purchasing an additional 7,676 shares during the period. Geode Capital Management LLC owned 1.92% of Impinj worth $117,576,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new position in shares of Impinj in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC grew its position 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 buying an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Impinj in the third quarter valued at $54,000. SouthState Corp acquired a new stake in shares of Impinj during the 2nd quarter valued at $94,000. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Impinj during the 3rd quarter worth $138,000.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PI shares. Susquehanna boosted their target price on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Needham & Company LLC raised their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Piper Sandler restated an “overweight” rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Lake Street Capital raised 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, October 24th. One equities research 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.com, Impinj has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Stock Down 1.4 %

Impinj stock opened at $148.06 on Wednesday. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88. The company’s fifty day simple moving average is $194.11 and its 200-day simple moving average is $177.81. The stock has a market cap of $4.19 billion, a P/E ratio of 166.36 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business’s revenue was up 46.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.36) EPS. On average, equities research analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In related news, CRO Jeffrey Dossett sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00. Following the completion of the sale, the executive now directly owns 65,294 shares in the company, valued at approximately $11,829,313.98. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sylebra Capital Llc sold 2,550 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $195.41, for a total value of $498,295.50. Following the transaction, the insider now owns 2,129,260 shares in the company, valued at approximately $416,078,696.60. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 655,674 shares of company stock worth $131,623,305 over the last ninety days. 51.00% of the stock is currently owned by insiders.

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.