Quantbot Technologies LP Buys Shares of 28,163 Impinj, Inc. (NASDAQ:PI)

Quantbot Technologies LP bought a new stake in Impinj, Inc. (NASDAQ:PI) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 28,163 shares of the company’s stock, valued at approximately $4,415,000. Quantbot Technologies LP owned about 0.10% of Impinj at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj during the first quarter worth about $32,000. SouthState Corp acquired a new stake in shares of Impinj during the second quarter worth about $94,000. nVerses Capital LLC lifted its position in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares in the last quarter. Jamison Private Wealth Management Inc. lifted its position in shares of Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after purchasing an additional 549 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after purchasing an additional 521 shares in the last quarter.

Impinj Stock Up 0.4 %

Shares of Impinj stock opened at $186.62 on Tuesday. The firm has a market capitalization of $5.25 billion, a P/E ratio of -533.20 and a beta of 1.78. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $190.22. The firm’s 50 day moving average is $163.03 and its two-hundred day moving average is $150.14.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. The company had revenue of $102.50 million for the quarter, compared to analyst estimates of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The firm’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.14) earnings per share. As a group, research analysts expect that Impinj, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other news, COO Hussein Mecklai sold 833 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $147.58, for a total transaction of $122,934.14. Following the transaction, the chief operating officer now directly owns 57,427 shares in the company, valued at $8,475,076.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Hussein Mecklai sold 833 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $147.58, for a total transaction of $122,934.14. Following the transaction, the chief operating officer now directly owns 57,427 shares in the company, valued at $8,475,076.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the transaction, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The disclosure for this purchase can be found here. Insiders have sold 36,762 shares of company stock worth $5,765,390 over the last three months. Insiders own 51.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $205.00 price target on shares of Impinj in a research report on Thursday, July 25th. Evercore ISI upped their target price on shares of Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and set a $195.00 target price on shares of Impinj in a research note on Thursday, July 25th. Lake Street Capital upped their target price on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group lowered shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 target price on the stock. in a research note on Monday, May 20th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.10.

Impinj Company 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.