Polymer Capital Management HK LTD Buys Shares of 13,500 Impinj, Inc. (NASDAQ:PI)

Polymer Capital Management HK LTD purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) in the 4th quarter, Holdings Channel reports. The fund purchased 13,500 shares of the company’s stock, valued at approximately $1,961,000.

A number of other large investors have also modified their holdings of the company. National Bank of Canada FI acquired a new position in Impinj during the 3rd quarter worth $30,000. SBI Securities Co. Ltd. bought a new position in Impinj in the 4th quarter valued at about $33,000. Jones Financial Companies Lllp increased its stake in Impinj by 205.9% during the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after buying an additional 175 shares during the period. IFP Advisors Inc raised its position in shares of Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after buying an additional 198 shares in the last quarter. Finally, Spire Wealth Management bought a new stake in shares of Impinj during the 4th quarter worth about $87,000.

Impinj Price Performance

Shares of PI opened at $73.00 on Friday. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 53.68 and a beta of 1.74. Impinj, Inc. has a one year low of $68.07 and a one year high of $239.88. The company has a 50-day moving average of $100.18 and a two-hundred day moving average of $153.35.

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

Analyst Ratings Changes

A number of research analysts recently commented on PI shares. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Needham & Company LLC decreased their price target on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Piper Sandler dropped their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group decreased their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Impinj currently has an average rating of “Moderate Buy” and a consensus target price of $183.44.

Insiders Place Their Bets

In related news, insider Cathal G. Phelan sold 565 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the transaction, the insider now directly owns 7,925 shares of the company’s stock, valued at approximately $782,752.25. This trade represents a 6.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the sale, the chief executive officer now owns 354,076 shares of the company’s stock, valued at $34,975,627.28. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock worth $1,925,748 in the last quarter. 51.00% of the stock is currently owned by corporate insiders.

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.