New York State Teachers Retirement System Invests $1.13 Million in Impinj, Inc. (NASDAQ:PI)

New York State Teachers Retirement System acquired a new stake in Impinj, Inc. (NASDAQ:PI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,200 shares of the company’s stock, valued at approximately $1,126,000.

Several other hedge funds have also recently added to or reduced their stakes in PI. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj in the third quarter worth $54,000. SouthState Corp purchased a new stake in Impinj during the 2nd quarter worth about $94,000. nVerses Capital LLC raised its stake 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 purchasing an additional 300 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its holdings in Impinj by 211.2% in 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, USA Financial Formulas boosted its stake in shares of Impinj by 82.0% during the 3rd quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after purchasing an additional 296 shares during the last quarter.

Impinj Price Performance

Shares of NASDAQ:PI opened at $203.56 on Friday. The business has a 50-day moving average of $203.31 and a two-hundred day moving average of $174.63. The firm has a market capitalization of $5.76 billion, a PE ratio of 228.72 and a beta of 1.81. Impinj, Inc. has a 12 month low of $67.63 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same quarter last year, the firm posted ($0.36) earnings per share. Impinj’s revenue for the quarter was up 46.5% compared to the same quarter last year. As a group, research analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PI shares. The Goldman Sachs Group boosted their price objective on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Lake Street Capital boosted their price target on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC raised their price objective on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald increased their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average target price of $224.60.

Insider Activity at Impinj

In other news, CRO Jeffrey Dossett sold 488 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.84, for a total value of $116,065.92. Following the completion of the sale, the executive now owns 65,294 shares of the company’s stock, valued at $15,529,524.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the sale, the insider now owns 17,647 shares of the company’s stock, valued at $3,690,870.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Jeffrey Dossett sold 488 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.84, for a total transaction of $116,065.92. Following the completion of the transaction, the executive now directly owns 65,294 shares of the company’s stock, valued at approximately $15,529,524.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 317,685 shares of company stock worth $63,262,298. 51.00% of the stock is currently owned by corporate 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.