3,708 Shares in Impinj, Inc. (NASDAQ:PI) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new stake in Impinj, Inc. (NASDAQ:PI) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,708 shares of the company’s stock, valued at approximately $336,000.

Other large investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new position in shares of Impinj during the 4th quarter valued at approximately $29,000. GAMMA Investing LLC lifted its stake in Impinj by 68.7% during the first quarter. GAMMA Investing LLC now owns 722 shares of the company’s stock worth $65,000 after purchasing an additional 294 shares during the last quarter. KBC Group NV lifted its stake in Impinj by 35.0% during the first quarter. KBC Group NV now owns 1,227 shares of the company’s stock worth $111,000 after purchasing an additional 318 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Impinj during the fourth quarter worth $156,000. Finally, Versant Capital Management Inc lifted its stake in Impinj by 7.2% during the first quarter. Versant Capital Management Inc now owns 2,237 shares of the company’s stock worth $203,000 after purchasing an additional 150 shares during the last quarter.

Impinj Trading Down 0.1%

NASDAQ:PI opened at $115.98 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 10.96 and a quick ratio of 7.46. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88. The stock’s 50-day moving average is $113.63 and its two-hundred day moving average is $106.80. The stock has a market cap of $3.36 billion, a PE ratio of -2,898.78 and a beta of 1.64.

Impinj (NASDAQ:PI) last announced its quarterly 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 positive return on equity of 6.45% and a negative net margin of 0.26%. The business had revenue of $74.28 million during the quarter, compared to analysts’ expectations of $71.73 million. During the same quarter in the previous year, the business posted $0.21 EPS. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PI shares. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 target price on shares of Impinj in a research report on Thursday, June 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th. Needham & Company LLC lowered their target price on shares of Impinj from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Evercore ISI raised their target price on shares of Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.