Scientech Research LLC Grows Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Scientech Research LLC lifted its holdings in Impinj, Inc. (NASDAQ:PI) by 37.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,373 shares of the company’s stock after acquiring an additional 647 shares during the quarter. Scientech Research LLC’s holdings in Impinj were worth $372,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PI. UBS Group AG grew its position in Impinj by 0.7% during the 4th quarter. UBS Group AG now owns 91,409 shares of the company’s stock worth $8,230,000 after purchasing an additional 637 shares during the period. Eagle Asset Management Inc. grew its holdings in Impinj by 19.6% during the fourth quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock worth $18,435,000 after acquiring an additional 33,504 shares during the period. Capital International Investors purchased a new position in Impinj during the fourth quarter valued at approximately $68,211,000. Prudential PLC purchased a new position in Impinj during the fourth quarter valued at approximately $277,000. Finally, Ghisallo Capital Management LLC acquired a new position in Impinj in the fourth quarter valued at approximately $4,192,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Lake Street Capital lifted their target price on shares of Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Susquehanna upped their price objective on shares of Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Evercore ISI lifted their price target on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Roth Mkm raised their price objective on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.60.

Insider Buying and Selling

In other news, CFO Cary Baker sold 496 shares of the company’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 completion of the sale, the chief financial officer now directly owns 70,524 shares in the company, valued at $14,751,505.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Cary Baker sold 496 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the sale, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of $4.69 per share, with a total value 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. Over the last three months, insiders have sold 26,713 shares of company stock worth $4,469,082. 51.00% of the stock is owned by insiders.

Impinj Price Performance

Shares of Impinj stock opened at $213.31 on Monday. The business has a 50 day simple moving average of $169.34 and a two-hundred day simple moving average of $155.65. The stock has a market capitalization of $6.00 billion, a P/E ratio of -609.46 and a beta of 1.78. Impinj, Inc. has a 12 month low of $48.39 and a 12 month high of $220.17.

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

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.