Impinj, Inc. (NASDAQ:PI) Stock Position Cut by Apis Capital Advisors LLC

Apis Capital Advisors LLC decreased its stake in shares of Impinj, Inc. (NASDAQ:PI) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,200 shares of the company’s stock after selling 1,400 shares during the period. Impinj makes up 2.8% of Apis Capital Advisors LLC’s portfolio, making the stock its 15th biggest position. Apis Capital Advisors LLC owned about 0.09% of Impinj worth $3,794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PI. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj in the first quarter valued at $32,000. SouthState Corp bought a new stake in Impinj in the second quarter worth about $94,000. nVerses Capital LLC lifted 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 last quarter. Jamison Private Wealth Management Inc. boosted its position 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. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after purchasing an additional 521 shares in the last quarter.

Impinj Trading Up 0.3 %

NASDAQ:PI opened at $201.99 on Monday. The business’s fifty day moving average price is $165.49 and its 200 day moving average price is $152.51. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -577.11 and a beta of 1.78. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $204.24.

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

Insider Activity at Impinj

In other news, CEO Chris Ph.D. Diorio sold 5,000 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $162.32, for a total value of $811,600.00. Following the transaction, the chief executive officer now directly owns 289,474 shares of the company’s stock, valued at $46,987,419.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Hussein Mecklai sold 416 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $175.43, for a total transaction of $72,978.88. Following the transaction, the chief operating officer now owns 58,104 shares of the company’s stock, valued at $10,193,184.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $162.32, for a total transaction of $811,600.00. Following the completion of the sale, the chief executive officer now owns 289,474 shares of the company’s stock, valued at $46,987,419.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,111 shares of company stock valued at $4,485,855. Corporate insiders own 51.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PI. Susquehanna increased their target price on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Evercore ISI lifted their target price on Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Lake Street Capital boosted their target price on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price target on shares of Impinj in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.10.

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.