12,996 Shares in Impinj, Inc. (NASDAQ:PI) Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue purchased a new stake in Impinj, Inc. (NASDAQ:PI) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,996 shares of the company’s stock, valued at approximately $2,813,000.

Other large investors also recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj during the third quarter worth $54,000. SouthState Corp acquired a new stake in shares of Impinj during the 2nd quarter valued at $94,000. nVerses Capital LLC grew its position in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after acquiring an additional 300 shares during the last quarter. Jamison Private Wealth Management Inc. increased its holdings 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. Finally, USA Financial Formulas raised its position in Impinj by 82.0% in 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 during the last quarter.

Insider Transactions at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Chris Ph.D. Diorio sold 34,474 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $201.51, for a total value of $6,946,855.74. Following the sale, the chief executive officer now owns 294,438 shares of the company’s stock, valued at $59,332,201.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,284 shares of company stock valued at $19,783,007 over the last ninety days. 51.00% of the stock is owned by company insiders.

Impinj Stock Performance

Shares of PI stock opened at $189.99 on Friday. Impinj, Inc. has a fifty-two week low of $59.64 and a fifty-two week high of $239.88. The stock has a 50 day simple moving average of $199.27 and a two-hundred day simple moving average of $171.00. The company has a market cap of $5.27 billion, a P/E ratio of -542.83 and a beta of 1.80.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. Impinj’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.36) EPS. On average, research analysts predict that Impinj, Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PI. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Cantor Fitzgerald upped their price target on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Roth Mkm increased their price objective on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $224.60.

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.