Farther Finance Advisors LLC Acquires 141 Shares of Impinj, Inc. (NASDAQ:PI)

Farther Finance Advisors LLC raised its position in Impinj, Inc. (NASDAQ:PI) by 1,084.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 154 shares of the company’s stock after acquiring an additional 141 shares during the period. Farther Finance Advisors LLC’s holdings in Impinj were worth $33,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. Future Financial Wealth Managment LLC bought a new position in Impinj in the 3rd quarter valued at $54,000. SouthState Corp acquired a new position in shares of Impinj in the second quarter valued at approximately $94,000. nVerses Capital LLC raised 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 valued at $110,000 after purchasing an additional 300 shares during the period. Jamison Private Wealth Management Inc. boosted its position in Impinj by 211.2% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after acquiring an additional 549 shares during the last quarter. Finally, USA Financial Formulas lifted its position in Impinj by 82.0% during the 3rd quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after buying an additional 296 shares in the last quarter.

Insiders Place Their Bets

In related news, CFO Cary Baker sold 366 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.83, for a total transaction of $87,045.78. Following the transaction, the chief financial officer now owns 71,096 shares in the company, valued at $16,908,761.68. The trade was a 0.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Jeffrey Dossett sold 7,500 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $11,829,313.98. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 656,351 shares of company stock valued at $131,733,291 in the last quarter. Corporate insiders own 51.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI reiterated an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Lake Street Capital raised their target price on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Needham & Company LLC increased their price objective on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald raised their price objective 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Impinj has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Stock Down 1.6 %

Shares of PI stock opened at $182.73 on Friday. Impinj, Inc. has a 12-month low of $78.17 and a 12-month high of $239.88. The company has a 50 day moving average of $204.99 and a 200-day moving average of $175.70. The firm has a market cap of $5.17 billion, a P/E ratio of 202.19 and a beta of 1.81.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.36) EPS. As a group, equities analysts expect that Impinj, Inc. will post 0.4 EPS for the current year.

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.