Algert Global LLC Has $2.49 Million Position in Impinj, Inc. (NASDAQ:PI)

Algert Global LLC increased its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 399.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,871 shares of the company’s stock after purchasing an additional 12,696 shares during the period. Algert Global LLC owned approximately 0.06% of Impinj worth $2,488,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Scientech Research LLC lifted its stake in Impinj by 37.5% in the second quarter. Scientech Research LLC now owns 2,373 shares of the company’s stock valued at $372,000 after buying an additional 647 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Impinj in the 2nd quarter valued at $208,000. The Manufacturers Life Insurance Company boosted its stake in Impinj by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,753 shares of the company’s stock worth $1,999,000 after purchasing an additional 317 shares during the period. Dark Forest Capital Management LP increased its holdings in Impinj by 130.9% during the 2nd quarter. Dark Forest Capital Management LP now owns 8,058 shares of the company’s stock worth $1,263,000 after purchasing an additional 4,568 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Impinj in the 2nd quarter valued at about $2,183,000.

Impinj Stock Performance

Shares of NASDAQ:PI opened at $211.67 on Wednesday. The company has a 50-day simple moving average of $170.05 and a 200 day simple moving average of $156.59. The company has a market capitalization of $5.87 billion, a P/E ratio of -604.77 and a beta of 1.78. Impinj, Inc. has a 52-week low of $48.39 and a 52-week high of $220.17.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PI shares. Evercore ISI increased their price objective on Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Piper Sandler reissued an “overweight” rating and issued a $225.00 price objective (up previously from $180.00) on shares of Impinj in a research report on Friday, September 27th. Roth Mkm raised their target price on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $205.00 price target on shares of Impinj in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $191.60.

Insiders Place Their Bets

In related news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CRO Jeffrey Dossett sold 577 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.20, for a total transaction of $120,708.40. Following the transaction, the executive now directly owns 64,532 shares of the company’s stock, valued at $13,500,094.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the purchase, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. The disclosure for this purchase can be found here. Insiders sold a total of 26,713 shares of company stock valued at $4,469,082 over the last ninety days. 51.00% of the stock is currently owned by company insiders.

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.