Point72 DIFC Ltd Acquires New Position in Impinj, Inc. (NASDAQ:PI)

Point72 DIFC Ltd bought a new position in Impinj, Inc. (NASDAQ:PI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,372 shares of the company’s stock, valued at approximately $372,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PI. Hsbc Holdings PLC boosted its holdings in shares of Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after acquiring an additional 190 shares during the period. Rhumbline Advisers lifted its holdings in Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after purchasing an additional 248 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Impinj in the 1st quarter worth about $32,000. Arizona State Retirement System grew its holdings in Impinj by 4.1% during the 2nd quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock valued at $1,032,000 after buying an additional 261 shares in the last quarter. Finally, nVerses Capital LLC increased its position in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Cantor Fitzgerald restated an “overweight” rating and set a $205.00 price target on shares of Impinj in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Impinj in a research report on Thursday, July 25th. Evercore ISI boosted their target price on Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $187.10.

Impinj Stock Up 1.8 %

Shares of NASDAQ PI opened at $217.83 on Friday. The firm’s fifty day moving average is $167.65 and its 200 day moving average is $154.27. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $220.17. The company has a market cap of $6.04 billion, a price-to-earnings ratio of -622.37 and a beta of 1.78.

Impinj (NASDAQ:PI) last announced its 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 firm had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. During the same quarter in the prior year, the company earned ($0.14) EPS. The business’s revenue was up 19.2% compared to the same quarter last year. Equities research analysts anticipate that Impinj, Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 5,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $154.03, for a total value of $770,150.00. Following the sale, the chief executive officer now owns 289,474 shares in the company, valued at $44,587,680.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Cary Baker sold 496 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total transaction of $103,748.32. Following the sale, the chief financial officer now directly owns 70,524 shares of the company’s stock, valued at approximately $14,751,505.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $154.03, for a total transaction of $770,150.00. Following the completion of the transaction, the chief executive officer now directly owns 289,474 shares of the company’s stock, valued at $44,587,680.22. The disclosure for this sale can be found here. Insiders sold a total of 31,713 shares of company stock valued at $5,239,232 in the last three months. Company insiders own 51.00% of the company’s stock.

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.