Charles Schwab Investment Management Inc. Has $41.84 Million Stake in Impinj, Inc. (NASDAQ:PI)

Charles Schwab Investment Management Inc. increased its stake in Impinj, Inc. (NASDAQ:PI) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,240 shares of the company’s stock after purchasing an additional 6,232 shares during the period. Charles Schwab Investment Management Inc. owned 0.68% of Impinj worth $41,840,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PI. Assenagon Asset Management S.A. acquired a new stake in Impinj in the second quarter valued at $103,252,000. Jennison Associates LLC raised its stake in Impinj by 15.0% in the 3rd quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock valued at $51,779,000 after acquiring an additional 31,269 shares during the period. Renaissance Technologies LLC bought a new position in Impinj during the second quarter worth $30,116,000. Emerald Advisers LLC lifted its stake in shares of Impinj by 8.2% during the 3rd quarter. Emerald Advisers LLC now owns 182,481 shares of the company’s stock worth $39,511,000 after buying an additional 13,884 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its stake in Impinj by 4.2% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 143,219 shares of the company’s stock valued at $31,010,000 after buying an additional 5,716 shares during the last quarter.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 496 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total transaction of $103,748.32. Following the completion of the sale, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. This represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Jeffrey Dossett sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00. Following the completion of the sale, the executive now directly owns 65,294 shares in the company, valued at $11,829,313.98. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 655,674 shares of company stock worth $131,623,305 over the last 90 days. Corporate insiders own 51.00% of the company’s stock.

Impinj Trading Down 2.4 %

Shares of NASDAQ:PI opened at $187.55 on Tuesday. The stock’s fifty day simple moving average is $205.53 and its two-hundred day simple moving average is $178.02. The stock has a market cap of $5.31 billion, a PE ratio of 210.73 and a beta of 1.81. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter in the previous year, the firm earned ($0.36) earnings per share. The business’s revenue was up 46.5% on a year-over-year basis. On average, sell-side analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PI shares. Piper Sandler reissued an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Lake Street Capital raised their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Cantor Fitzgerald boosted their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their target price on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $224.60.

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.