Rhumbline Advisers Raises Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Rhumbline Advisers boosted its holdings in Impinj, Inc. (NASDAQ:PI) by 1.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,109 shares of the company’s stock after purchasing an additional 919 shares during the period. Rhumbline Advisers owned about 0.22% of Impinj worth $5,633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Asset Management One Co. Ltd. lifted its holdings in Impinj by 85.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company’s stock worth $174,000 after buying an additional 542 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in Impinj by 92.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock worth $20,454,000 after buying an additional 67,510 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Impinj by 7.0% during the 4th quarter. Victory Capital Management Inc. now owns 20,825 shares of the company’s stock worth $3,025,000 after buying an additional 1,363 shares during the last quarter. Norges Bank bought a new position in Impinj during the 4th quarter worth approximately $40,100,000. Finally, Proficio Capital Partners LLC bought a new position in Impinj during the 4th quarter worth approximately $1,625,000.

Impinj Price Performance

PI opened at $108.90 on Friday. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The stock has a market cap of $3.16 billion, a P/E ratio of 80.07 and a beta of 1.67. The stock’s 50 day moving average price is $97.45 and its 200 day moving average price is $116.33.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.09 by $0.12. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm had revenue of $74.28 million for the quarter, compared to analysts’ expectations of $71.73 million. During the same period last year, the firm earned $0.21 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. Equities analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on PI. Cantor Fitzgerald reissued an “overweight” rating and issued a $133.00 price target on shares of Impinj in a report on Thursday, April 24th. Needham & Company LLC cut their price target on Impinj from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Evercore ISI raised their price target on Impinj from $99.00 to $117.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Piper Sandler reissued an “overweight” rating and issued a $100.00 price target on shares of Impinj in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.38.

Impinj 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.