Capital Fund Management S.A. Buys Shares of 12,398 Impinj, Inc. (NASDAQ:PI)

Capital Fund Management S.A. purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 12,398 shares of the company’s stock, valued at approximately $1,801,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Impinj by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock valued at $500,009,000 after acquiring an additional 104,861 shares during the period. Geode Capital Management LLC grew its holdings in shares of Impinj by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 546,823 shares of the company’s stock worth $79,654,000 after purchasing an additional 3,899 shares in the last quarter. Norges Bank acquired a new stake in shares of Impinj during the 4th quarter worth approximately $40,100,000. Renaissance Technologies LLC increased its position in shares of Impinj by 3.5% during the fourth quarter. Renaissance Technologies LLC now owns 224,400 shares of the company’s stock valued at $32,596,000 after purchasing an additional 7,500 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Impinj by 10.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company’s stock valued at $30,998,000 after purchasing an additional 20,158 shares in the last quarter.

Impinj Price Performance

Shares of PI opened at $66.38 on Wednesday. The company has a market capitalization of $1.89 billion, a P/E ratio of 48.81 and a beta of 1.74. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88. The business’s 50 day simple moving average is $89.85 and its 200-day simple moving average is $145.02.

Impinj (NASDAQ:PI) last posted its quarterly earnings data 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%. On average, sell-side analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PI shares. Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. Susquehanna decreased their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Needham & Company LLC dropped their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group decreased their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Finally, Piper Sandler dropped their target price on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and an average price target of $183.44.

Insider Buying and Selling

In other news, COO Hussein Mecklai sold 3,739 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the sale, the chief operating officer now owns 70,347 shares in the company, valued at $6,950,987.07. The trade was a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Cary Baker sold 1,553 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now owns 76,451 shares in the company, valued at approximately $7,550,300.76. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,857 shares of company stock worth $1,665,290 in the last 90 days. Corporate insiders own 51.00% of the company’s stock.

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.