Creative Planning Has $2.61 Million Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Creative Planning grew its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 23.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,046 shares of the company’s stock after buying an additional 2,287 shares during the quarter. Creative Planning’s holdings in Impinj were worth $2,608,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in Impinj in the 3rd quarter valued at $54,000. SouthState Corp purchased a new stake in shares of Impinj in the second quarter valued at about $94,000. USA Financial Formulas lifted its position in shares of Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock valued at $142,000 after purchasing an additional 296 shares in the last quarter. nVerses Capital LLC boosted its holdings in Impinj by 75.0% during the second 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. Finally, Jamison Private Wealth Management Inc. grew its position in Impinj by 211.2% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after purchasing an additional 549 shares in the last quarter.

Insider Activity

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total transaction of $313,261.76. Following the transaction, the chief executive officer now directly owns 292,532 shares in the company, valued at $61,174,291.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Impinj news, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the sale, the chief executive officer now directly owns 292,532 shares in the company, valued at $61,174,291.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Jeffrey Dossett sold 15,000 shares of Impinj stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total value of $2,367,150.00. Following the completion of the transaction, the executive now owns 63,642 shares in the company, valued at approximately $10,043,344.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,779 shares of company stock worth $3,825,046. 51.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on PI. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Friday. Lake Street Capital boosted their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday. Roth Mkm raised their price objective on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. 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 note on Thursday. Finally, The Goldman Sachs Group increased their target price on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday. One investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Impinj Stock Performance

Shares of PI stock opened at $200.70 on Friday. Impinj, Inc. has a 52-week low of $58.56 and a 52-week high of $239.88. The business’s fifty day moving average is $196.40 and its 200 day moving average is $169.26. The company has a market capitalization of $5.64 billion, a PE ratio of 692.07 and a beta of 1.80.

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 net margin of 3.93% and a negative return on equity of 21.12%. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same period in the prior year, the business earned ($0.36) earnings per share. Impinj’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, sell-side 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.