Thrivent Financial for Lutherans Makes New $3.87 Million Investment in Impinj, Inc. (NASDAQ:PI)

Thrivent Financial for Lutherans acquired a new stake in Impinj, Inc. (NASDAQ:PI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,884 shares of the company’s stock, valued at approximately $3,872,000. Thrivent Financial for Lutherans owned 0.06% of Impinj at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Mutual of America Capital Management LLC bought a new stake in Impinj in the 3rd quarter valued at $742,000. CIBC Asset Management Inc acquired a new stake in shares of Impinj during the third quarter worth $273,000. KBC Group NV boosted its position in shares of Impinj by 29.7% in the third quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after acquiring an additional 156 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Impinj by 31.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,044 shares of the company’s stock valued at $443,000 after acquiring an additional 487 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Impinj by 25.1% during the third quarter. Victory Capital Management Inc. now owns 19,462 shares of the company’s stock worth $4,214,000 after acquiring an additional 3,900 shares during the period.

Insider Buying and Selling at Impinj

In related news, CEO Chris Ph.D. Diorio sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total value of $313,261.76. Following the transaction, the chief executive officer now owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. This trade represents a 0.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were bought 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 in the company, valued at approximately $155,006,638.64. This represents a 14.81 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 655,674 shares of company stock valued at $131,623,305. Corporate insiders own 51.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PI shares. Lake Street Capital lifted their price objective 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 boosted their price target on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Cantor Fitzgerald boosted their target price on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Susquehanna upped their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. One research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Impinj Stock Performance

NASDAQ:PI opened at $191.04 on Monday. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The company has a 50 day simple moving average of $206.17 and a two-hundred day simple moving average of $176.83. The company has a market capitalization of $5.40 billion, a PE ratio of 214.65 and a beta of 1.81.

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

Impinj Company 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.