Fmr LLC Acquires 60,461 Shares of Impinj, Inc. (NASDAQ:PI)

Fmr LLC grew its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,217,403 shares of the company’s stock after purchasing an additional 60,461 shares during the quarter. Fmr LLC owned about 14.91% of Impinj worth $913,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Los Angeles Capital Management LLC grew its holdings in Impinj by 210.2% during the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after purchasing an additional 5,807 shares during the last quarter. SG Americas Securities LLC grew its stake in Impinj by 457.1% in the 2nd quarter. SG Americas Securities LLC now owns 22,260 shares of the company’s stock valued at $3,490,000 after buying an additional 18,264 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in Impinj in the 3rd quarter worth $3,872,000. Principal Financial Group Inc. lifted its position in Impinj by 4,013.7% during the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after acquiring an additional 122,579 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Impinj by 112.0% during the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock valued at $2,122,000 after acquiring an additional 7,151 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PI shares. Needham & Company LLC lifted their price objective on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Susquehanna increased their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Cantor Fitzgerald boosted their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Insider Buying and Selling at Impinj

In other news, CFO Cary Baker sold 496 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total value of $103,748.32. Following the transaction, the chief financial officer now directly owns 70,524 shares of the company’s stock, valued at $14,751,505.08. The trade was a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of Impinj stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 14.81 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 655,674 shares of company stock worth $131,623,305 over the last three months. Company insiders own 51.00% of the company’s stock.

Impinj Stock Performance

NASDAQ:PI opened at $189.25 on Thursday. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 212.64 and a beta of 1.81. The company has a 50-day moving average of $206.38 and a 200-day moving average of $177.50. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same period in the previous year, the business earned ($0.36) earnings per share. The company’s quarterly revenue was up 46.5% on a year-over-year basis. Sell-side analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

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.