TimesSquare Capital Management LLC Purchases 67,510 Shares of Impinj, Inc. (NASDAQ:PI)

TimesSquare Capital Management LLC boosted its position in Impinj, Inc. (NASDAQ:PI) by 92.1% in the fourth quarter, HoldingsChannel reports. The firm owned 140,812 shares of the company’s stock after buying an additional 67,510 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Impinj were worth $20,454,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI purchased a new position in Impinj in the third quarter valued at about $30,000. Farther Finance Advisors LLC lifted its stake in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Impinj during the 4th quarter valued at approximately $87,000. KBC Group NV lifted its stake in shares of Impinj by 33.5% during the 4th quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after buying an additional 228 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of Impinj during the 3rd quarter valued at approximately $138,000.

Impinj Price Performance

Shares of NASDAQ:PI opened at $103.11 on Thursday. The company’s fifty day moving average price is $134.37 and its 200-day moving average price is $169.37. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 75.82 and a beta of 1.88. Impinj, Inc. has a one year low of $97.77 and a one year high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. As a group, equities research analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Insider Transactions at Impinj

In related news, COO Hussein Mecklai sold 338 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $141.02, for a total transaction of $47,664.76. Following the transaction, the chief operating officer now owns 61,586 shares of the company’s stock, valued at approximately $8,684,857.72. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cathal G. Phelan sold 210 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $30,672.60. Following the transaction, the insider now directly owns 6,979 shares in the company, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,466 shares of company stock valued at $789,298 in the last quarter. Insiders own 51.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PI. Evercore ISI restated an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Lake Street Capital upped their price target on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC dropped their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald dropped their price target on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.10.

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.