Mackenzie Financial Corp Purchases Shares of 1,329 Impinj, Inc. (NASDAQ:PI)

Mackenzie Financial Corp acquired a new position in Impinj, Inc. (NASDAQ:PI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,329 shares of the company’s stock, valued at approximately $208,000.

Several other large investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Impinj in the 1st quarter valued at approximately $513,000. TimesSquare Capital Management LLC acquired a new position in Impinj during the 1st quarter valued at $19,195,000. Harbor Capital Advisors Inc. boosted its holdings in Impinj by 112.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock valued at $2,122,000 after purchasing an additional 7,151 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Impinj by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after purchasing an additional 7,247 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Impinj by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after purchasing an additional 35,893 shares during the period.

Impinj Stock Down 0.1 %

Shares of Impinj stock opened at $218.11 on Tuesday. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $220.17. The stock has a market capitalization of $6.13 billion, a P/E ratio of -623.17 and a beta of 1.80. The company has a 50-day simple moving average of $175.60 and a 200 day simple moving average of $159.83.

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

Insiders Place Their Bets

In other Impinj news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CRO Jeffrey Dossett sold 577 shares of Impinj stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.20, for a total value of $120,708.40. Following the completion of the sale, the executive now directly owns 64,532 shares of the company’s stock, valued at approximately $13,500,094.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were purchased 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 of the company’s stock, valued at $155,006,638.64. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 21,713 shares of company stock valued at $3,657,482. 51.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PI has been the topic of a number of recent research reports. Roth Mkm lifted their target price on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Lake Street Capital boosted their price objective on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Evercore ISI boosted their price target on shares of Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $225.00 price objective (up from $180.00) on shares of Impinj in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and a consensus price target of $191.60.

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.