Impinj, Inc. (NASDAQ:PI) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of Impinj, Inc. (NASDAQ:PI) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,900 shares of the company’s stock after acquiring an additional 248 shares during the period. Rhumbline Advisers owned 0.12% of Impinj worth $5,158,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. nVerses Capital LLC lifted its stake in shares of 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 purchasing an additional 300 shares during the last quarter. Azzad Asset Management Inc. ADV acquired a new position in Impinj during the second quarter worth $275,000. ARK & TLK Investments LLC purchased a new stake in shares of Impinj in the 2nd quarter valued at $219,000. Panagora Asset Management Inc. lifted its stake in Impinj by 79.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 66,361 shares of the company’s stock worth $10,403,000 after acquiring an additional 29,299 shares in the last quarter. Finally, K.J. Harrison & Partners Inc boosted its holdings in Impinj by 102.6% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 23,700 shares of the company’s stock valued at $3,715,000 after acquiring an additional 12,000 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PI shares. Evercore ISI lifted their price objective on shares of Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Impinj in a research report on Thursday, July 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $205.00 price target on shares of Impinj in a research note on Thursday, July 25th. Piper Sandler boosted their target price on shares of Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Susquehanna increased their price objective on Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.10.

Impinj Trading Up 1.0 %

Shares of NASDAQ PI opened at $185.92 on Monday. The stock has a 50 day moving average of $162.58 and a two-hundred day moving average of $149.60. The stock has a market cap of $5.23 billion, a P/E ratio of -531.20 and a beta of 1.78. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $190.09.

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

Insiders Place Their Bets

In other Impinj news, CRO Jeffrey Dossett sold 15,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total value of $2,367,150.00. Following the transaction, the executive now directly owns 63,642 shares of the company’s stock, valued at approximately $10,043,344.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Impinj news, CRO Jeffrey Dossett sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the transaction, the executive now owns 63,642 shares in the company, valued at approximately $10,043,344.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cathal G. Phelan sold 212 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $147.52, for a total value of $31,274.24. Following the completion of the sale, the insider now directly owns 16,669 shares of the company’s stock, valued at $2,459,010.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,762 shares of company stock valued at $6,519,990. 51.00% of the stock is owned by company insiders.

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.