Y Intercept Hong Kong Ltd Sells 3,903 Shares of Impinj, Inc. (NASDAQ:PI)

Y Intercept Hong Kong Ltd trimmed its stake in Impinj, Inc. (NASDAQ:PI) by 60.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,568 shares of the company’s stock after selling 3,903 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Impinj were worth $556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Los Angeles Capital Management LLC increased its holdings in Impinj by 210.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock worth $1,855,000 after acquiring an additional 5,807 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in Impinj during the third quarter worth about $3,872,000. Principal Financial Group Inc. increased its stake in shares of Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after purchasing an additional 122,579 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Impinj in the third quarter valued at approximately $1,437,000. Finally, Raymond James & Associates lifted its stake in shares of Impinj by 21.7% during the 3rd quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock valued at $4,969,000 after buying an additional 4,090 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PI shares. Piper Sandler reiterated an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Evercore ISI reissued an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Needham & Company LLC boosted their price objective on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Lake Street Capital increased their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Susquehanna boosted their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $224.60.

Impinj Stock Down 4.9 %

Shares of PI opened at $150.98 on Monday. The stock has a market cap of $4.27 billion, a P/E ratio of 169.64 and a beta of 1.80. The business’s 50 day moving average price is $196.98 and its 200-day moving average price is $177.89. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88.

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 analysts’ consensus estimates 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%. The firm’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.36) EPS. On average, equities analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current year.

Insider Activity

In related news, insider Cathal G. Phelan sold 209 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were 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 approximately $3,690,870.05. This trade represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Sylebra Capital Llc sold 32,031 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $195.35, for a total transaction of $6,257,255.85. Following the sale, the insider now owns 3,021,548 shares of the company’s stock, valued at $590,259,401.80. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 655,674 shares of company stock valued at $131,623,305 over the last three months. 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.