Intech Investment Management LLC Makes New $1.44 Million Investment in Impinj, Inc. (NASDAQ:PI)

Intech Investment Management LLC purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,636 shares of the company’s stock, valued at approximately $1,437,000.

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

Impinj Trading Up 1.4 %

Shares of NASDAQ:PI opened at $193.63 on Tuesday. The stock has a market capitalization of $5.48 billion, a P/E ratio of 215.71 and a beta of 1.81. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88. The business has a 50-day moving average price of $206.17 and a two-hundred day moving average price of $176.92.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The firm had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.36) EPS. As a group, equities analysts predict that Impinj, Inc. will post 0.4 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the transaction, the chief executive officer now directly owns 292,532 shares in the company, valued at approximately $61,174,291.84. The trade was a 0.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cathal G. Phelan sold 209 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the transaction, the insider now owns 17,647 shares of the company’s stock, valued at $3,690,870.05. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 655,674 shares of company stock valued at $131,623,305. 51.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

PI has been the subject of a number of analyst reports. Cantor Fitzgerald lifted their price objective on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Lake Street Capital lifted their price objective on Impinj from $190.00 to $251.00 and gave the company a “buy” 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. Evercore ISI reissued an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price target (up from $225.00) 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Impinj Company 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.