Los Angeles Capital Management LLC Increases Position in Impinj, Inc. (NASDAQ:PI)

Los Angeles Capital Management LLC boosted its position in Impinj, Inc. (NASDAQ:PI) by 210.2% in the 3rd quarter, Holdings Channel reports. The fund owned 8,569 shares of the company’s stock after purchasing an additional 5,807 shares during the period. Los Angeles Capital Management LLC’s holdings in Impinj were worth $1,855,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Impinj during the third quarter worth approximately $54,000. SouthState Corp purchased a new position in Impinj during the second quarter worth approximately $94,000. nVerses Capital LLC boosted its holdings in shares of Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. grew its stake in shares of Impinj by 211.2% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after buying an additional 549 shares during the period.

Impinj Price Performance

Shares of Impinj stock opened at $185.76 on Thursday. Impinj, Inc. has a 1-year low of $75.83 and a 1-year high of $239.88. The company has a market capitalization of $5.25 billion, a PE ratio of 208.72 and a beta of 1.81. The business has a 50-day moving average of $204.57 and a 200-day moving average of $175.63.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same quarter last year, the firm earned ($0.36) EPS. Impinj’s quarterly revenue was up 46.5% on a year-over-year basis. On average, equities analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PI has been the topic of a number of research analyst reports. Cantor Fitzgerald lifted their target price on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Roth Mkm increased their price objective on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Insider Buying and Selling

In other news, CFO Cary Baker sold 496 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total value of $103,748.32. Following the sale, the chief financial officer now owns 70,524 shares in the company, valued at approximately $14,751,505.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Impinj news, CFO Cary Baker sold 496 shares of Impinj stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the transaction, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The stock was acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the transaction, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 646,301 shares of company stock worth $129,876,220. 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.