Creative Planning Increases Position in Impinj, Inc. (NASDAQ:PI)

Creative Planning increased its holdings in Impinj, Inc. (NASDAQ:PI) by 13.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,759 shares of the company’s stock after acquiring an additional 1,180 shares during the period. Creative Planning’s holdings in Impinj were worth $1,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new position in Impinj in the 1st quarter valued at $32,000. SouthState Corp bought a new position in Impinj during the second quarter valued at about $94,000. nVerses Capital LLC increased its holdings in Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Impinj by 117.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after acquiring an additional 521 shares during the period. Finally, Jamison Private Wealth Management Inc. boosted its stake in Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after acquiring an additional 549 shares during the last quarter.

Insider Activity

In other Impinj news, CFO Cary Baker sold 496 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total value of $103,748.32. Following the transaction, the chief financial officer now directly owns 70,524 shares in the company, valued at $14,751,505.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of Impinj stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the sale, the chief executive officer now directly owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Cary Baker sold 496 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total transaction of $103,748.32. Following the completion of the transaction, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,713 shares of company stock worth $3,657,482 in the last three months. Corporate insiders own 51.00% of the company’s stock.

Impinj Stock Up 2.5 %

PI stock opened at $223.59 on Wednesday. The stock has a 50-day simple moving average of $176.94 and a two-hundred day simple moving average of $160.51. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $224.00. The firm has a market capitalization of $6.20 billion, a PE ratio of -638.83 and a beta of 1.80.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates 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%. Impinj’s revenue was up 19.2% compared to the same quarter last year. During the same period last year, the business earned ($0.14) earnings per share. On average, equities research analysts anticipate that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PI has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Impinj in a research note on Thursday, July 25th. Piper Sandler restated an “overweight” rating and issued a $225.00 target price (up from $180.00) on shares of Impinj in a research note on Friday, September 27th. Susquehanna increased their price target on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. 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 note on Thursday, July 25th. Finally, StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.60.

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.