12,560 Shares in Impinj, Inc. (NASDAQ:PI) Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC bought a new stake in shares of Impinj, Inc. (NASDAQ:PI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 12,560 shares of the company’s stock, valued at approximately $1,965,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PI. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj in the first quarter worth approximately $32,000. SouthState Corp bought a new stake in shares of Impinj during the 2nd quarter valued at $94,000. nVerses Capital LLC increased its stake in shares of Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Impinj by 117.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after purchasing an additional 521 shares during the period. Finally, Jamison Private Wealth Management Inc. lifted its position in Impinj by 211.2% during the second 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.

Insiders Place Their Bets

In other news, CRO Jeffrey Dossett sold 15,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the completion of the transaction, the executive now directly owns 63,642 shares in the company, valued at approximately $10,043,344.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the sale, the executive now directly owns 63,642 shares in the company, valued at approximately $10,043,344.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cathal G. Phelan sold 677 shares of Impinj stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $162.46, for a total value of $109,985.42. Following the completion of the transaction, the insider now owns 17,367 shares of the company’s stock, valued at approximately $2,821,442.82. The disclosure for this sale can be found here. Insiders have sold a total of 43,304 shares of company stock valued at $6,751,133 in the last quarter. 51.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on PI shares. Roth Mkm upped their price target 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 increased their target price on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Piper Sandler lifted their price target on shares of Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $205.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $195.00 target price on shares of Impinj in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $187.10.

Impinj Stock Performance

Shares of NASDAQ PI opened at $185.92 on Friday. The company has a market cap of $5.23 billion, a P/E ratio of -531.20 and a beta of 1.78. Impinj, Inc. has a 52-week low of $48.39 and a 52-week high of $190.09. The firm’s fifty day moving average is $162.58 and its two-hundred day moving average is $149.27.

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

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.