Mutual of America Capital Management LLC Takes $742,000 Position in Impinj, Inc. (NASDAQ:PI)

Mutual of America Capital Management LLC bought a new position in shares of Impinj, Inc. (NASDAQ:PI) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,425 shares of the company’s stock, valued at approximately $742,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc bought a new position in Impinj during the third quarter worth about $273,000. KBC Group NV grew its position in shares of Impinj by 29.7% during the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after purchasing an additional 156 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Impinj by 31.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 2,044 shares of the company’s stock worth $443,000 after purchasing an additional 487 shares during the period. Victory Capital Management Inc. raised its position in shares of Impinj by 25.1% in the third quarter. Victory Capital Management Inc. now owns 19,462 shares of the company’s stock valued at $4,214,000 after buying an additional 3,900 shares in the last quarter. Finally, Verus Capital Partners LLC bought a new stake in shares of Impinj in the third quarter valued at approximately $204,000.

Impinj Price Performance

Shares of Impinj stock opened at $195.57 on Wednesday. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88. The company’s fifty day simple moving average is $206.47 and its 200-day simple moving average is $177.41. The stock has a market capitalization of $5.53 billion, a PE ratio of 219.74 and a beta of 1.81.

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

Analyst Upgrades and Downgrades

PI has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Cantor Fitzgerald boosted their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Lake Street Capital boosted their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total value 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 trade represents a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 14.81 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 655,674 shares of company stock worth $131,623,305. Company insiders own 51.00% of the company’s stock.

About Impinj

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.