Inspire Investing LLC Has $353,000 Stock Position in Impinj, Inc. (NASDAQ:PI)

Inspire Investing LLC cut its stake in shares of Impinj, Inc. (NASDAQ:PI) by 19.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,250 shares of the company’s stock after selling 542 shares during the period. Inspire Investing LLC’s holdings in Impinj were worth $353,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hsbc Holdings PLC boosted its position in Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after buying an additional 190 shares during the period. Rhumbline Advisers grew its stake in shares of Impinj by 0.8% in the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after purchasing an additional 248 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Impinj in the first quarter worth $32,000. Arizona State Retirement System increased its holdings in Impinj by 4.1% in the second quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock valued at $1,032,000 after purchasing an additional 261 shares during the period. Finally, nVerses Capital LLC raised its position in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares during the last quarter.

Analysts Set New Price Targets

PI has been the subject of several recent research reports. Lake Street Capital increased their price target on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $205.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Piper Sandler lifted their target price on shares of Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target on shares of Impinj in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $187.10.

Impinj Price Performance

Shares of PI opened at $201.99 on Monday. Impinj, Inc. has a one year low of $48.39 and a one year high of $204.24. The company has a market cap of $5.60 billion, a PE ratio of -577.11 and a beta of 1.78. The stock has a 50-day moving average of $165.49 and a 200-day moving average of $152.51.

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

Insider Buying and Selling at Impinj

In related news, CFO Cary Baker sold 356 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $175.42, for a total value of $62,449.52. Following the transaction, the chief financial officer now owns 69,760 shares of the company’s stock, valued at approximately $12,237,299.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Cary Baker sold 356 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $175.42, for a total transaction of $62,449.52. Following the completion of the sale, the chief financial officer now owns 69,760 shares in the company, valued at $12,237,299.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Hussein Mecklai sold 416 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $175.43, for a total value of $72,978.88. Following the transaction, the chief operating officer now owns 58,104 shares in the company, valued at $10,193,184.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,111 shares of company stock worth $4,485,855. 51.00% of the stock is owned by corporate insiders.

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.