Impinj, Inc. (NASDAQ:PI) Position Decreased by Swiss National Bank

Swiss National Bank reduced its holdings in Impinj, Inc. (NASDAQ:PI) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,100 shares of the company’s stock after selling 200 shares during the quarter. Swiss National Bank owned 0.16% of Impinj worth $9,982,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PI. Vanguard Group Inc. boosted its position in shares of Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after purchasing an additional 35,893 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Impinj in the second quarter worth approximately $103,252,000. Janus Henderson Group PLC increased its position in shares of Impinj by 0.6% in the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock worth $56,376,000 after acquiring an additional 2,681 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Impinj during the second quarter valued at approximately $30,116,000. Finally, Emerald Advisers LLC lifted its position in shares of Impinj by 8.2% in the 3rd quarter. Emerald Advisers LLC now owns 182,481 shares of the company’s stock valued at $39,511,000 after acquiring an additional 13,884 shares in the last quarter.

Insider Activity at Impinj

In related news, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the completion of the sale, the executive now owns 65,294 shares in the company, valued at $11,829,313.98. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the firm’s stock in a transaction on 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 completion of the purchase, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The trade was a 14.81 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 655,674 shares of company stock worth $131,623,305. 51.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PI. Cantor Fitzgerald upped 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 shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Lake Street Capital raised their target price on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Susquehanna increased their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Impinj Stock Up 1.5 %

PI opened at $191.04 on Monday. The stock’s 50 day moving average price is $206.17 and its two-hundred day moving average price is $176.83. The firm has a market capitalization of $5.40 billion, a P/E ratio of 214.65 and a beta of 1.81. Impinj, Inc. has a 12-month low of $78.17 and a 12-month high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $92.86 million. During the same period in the previous year, the company posted ($0.36) earnings per share. The company’s quarterly revenue was up 46.5% compared to the same quarter last year. As a group, analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

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.