Capital Impact Advisors LLC Sells 8,947 Shares of Impinj, Inc. (NASDAQ:PI)

Capital Impact Advisors LLC lowered its stake in Impinj, Inc. (NASDAQ:PI) by 64.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,989 shares of the company’s stock after selling 8,947 shares during the period. Impinj makes up 2.2% of Capital Impact Advisors LLC’s holdings, making the stock its 11th biggest holding. Capital Impact Advisors LLC’s holdings in Impinj were worth $782,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Impinj by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after buying an additional 35,893 shares in the last quarter. Capital International Investors acquired a new stake in Impinj in the fourth quarter valued at about $68,211,000. Assenagon Asset Management S.A. acquired a new stake in Impinj in the second quarter valued at about $103,252,000. Janus Henderson Group PLC boosted its stake in Impinj by 0.6% in the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after buying an additional 2,681 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in shares of Impinj by 19.6% during the fourth quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after purchasing an additional 33,504 shares in the last quarter.

Insider Buying and Selling

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. In other Impinj news, CEO Chris Ph.D. Diorio sold 5,000 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $162.32, for a total value of $811,600.00. Following the transaction, the chief executive officer now owns 289,474 shares of the company’s stock, valued at $46,987,419.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Cary Baker sold 356 shares of the company’s stock in a transaction on 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 directly owns 69,760 shares in the company, valued at approximately $12,237,299.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,713 shares of company stock worth $4,469,082. 51.00% of the stock is owned by corporate insiders.

Impinj Stock Down 2.1 %

NASDAQ PI opened at $213.31 on Monday. The company has a market cap of $6.00 billion, a price-to-earnings ratio of -609.46 and a beta of 1.78. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $220.17. The business has a 50 day moving average price of $169.34 and a 200-day moving average price of $155.65.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping 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 business had revenue of $102.50 million during the quarter, compared to the consensus estimate of $97.47 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Impinj’s revenue was up 19.2% compared to the same quarter last year. On average, equities research analysts anticipate that Impinj, Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

PI has been the topic of a number of recent research reports. Evercore ISI lifted their price target on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Roth Mkm lifted their price target on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price target on shares of Impinj in a research note on Thursday, July 25th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Finally, 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. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $191.60.

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.