nVerses Capital LLC Grows Position in Impinj, Inc. (NASDAQ:PI)

nVerses Capital LLC increased its position in Impinj, Inc. (NASDAQ:PI) by 75.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 700 shares of the company’s stock after buying an additional 300 shares during the quarter. nVerses Capital LLC’s holdings in Impinj were worth $110,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in shares of Impinj during the first quarter valued at approximately $32,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Impinj by 117.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after purchasing an additional 521 shares during the period. Jamison Private Wealth Management Inc. boosted its stake in shares of Impinj by 211.2% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after purchasing an additional 549 shares in the last quarter. ARK & TLK Investments LLC purchased a new position in shares of Impinj during the second quarter valued at about $219,000. Finally, Bayesian Capital Management LP bought a new position in Impinj in the first quarter worth about $228,000.

Insider Activity

In other news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $153.10, for a total transaction of $153,100,000.00. Following the completion of the sale, the insider now owns 3,197,352 shares of the company’s stock, valued at approximately $489,514,591.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of Impinj stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $153.10, for a total transaction of $153,100,000.00. Following the transaction, the insider now directly owns 3,197,352 shares of the company’s stock, valued at approximately $489,514,591.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $146.49, for a total transaction of $732,450.00. Following the completion of the sale, the chief executive officer now directly owns 286,230 shares of the company’s stock, valued at $41,929,832.70. The disclosure for this sale can be found here. Insiders sold 1,049,804 shares of company stock valued at $160,805,643 in the last quarter. 51.00% of the stock is currently owned by insiders.

Impinj Trading Down 3.2 %

Shares of PI stock opened at $162.72 on Wednesday. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $181.88. The stock has a market capitalization of $4.51 billion, a P/E ratio of -464.91 and a beta of 1.78. The firm’s 50 day moving average is $159.96 and its 200 day moving average is $145.58.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. During the same period last year, the business posted ($0.14) EPS. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. As a group, equities analysts predict that Impinj, Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PI shares. Piper Sandler upped their target price on Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Impinj in a report on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and set a $205.00 target price on shares of Impinj in a report on Thursday, July 25th. Evercore ISI increased their price target on shares of Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Roth Mkm upped their price objective on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and a consensus price target of $187.10.

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.