Healthcare of Ontario Pension Plan Trust Fund Buys New Shares in Impinj, Inc. (NASDAQ:PI)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Impinj, Inc. (NASDAQ:PI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,900 shares of the company’s stock, valued at approximately $1,395,000.

Other institutional investors have also added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new stake in Impinj during the first quarter valued at about $32,000. SouthState Corp bought a new position in Impinj in the second quarter worth about $94,000. nVerses Capital LLC raised its stake in Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares in the last quarter. Jamison Private Wealth Management Inc. raised its stake in Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after buying an additional 549 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Impinj by 117.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after buying an additional 521 shares in the last quarter.

Insider Activity at Impinj

In related news, CRO Jeffrey Dossett sold 577 shares of Impinj stock in a transaction on 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 owns 64,532 shares in the company, valued at approximately $13,500,094.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Jeffrey Dossett sold 577 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.20, for a total transaction of $120,708.40. Following the completion of the sale, the executive now owns 64,532 shares in the company, valued at approximately $13,500,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,713 shares of company stock worth $3,657,482. 51.00% of the stock is owned by corporate insiders.

Impinj Price Performance

Shares of Impinj stock opened at $218.11 on Tuesday. The company’s fifty day simple moving average is $175.60 and its 200-day simple moving average is $159.83. The stock has a market capitalization of $6.13 billion, a PE ratio of -623.17 and a beta of 1.80. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $220.17.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The business had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.14) EPS. As a group, research analysts anticipate that Impinj, Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Evercore ISI increased their price target on shares of Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Impinj in a research note on Thursday, July 25th. 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 note on Thursday, July 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $205.00 target price on shares of Impinj in a research note on Thursday, July 25th. Finally, Lake Street Capital raised their price target on shares of Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.60.

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.