Impinj, Inc. (NASDAQ:PI) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Impinj, Inc. (NASDAQ:PI) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,989 shares of the company’s stock after purchasing an additional 660 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Impinj were worth $634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in Impinj during the fourth quarter worth approximately $29,000. SBI Securities Co. Ltd. grew its stake in Impinj by 75.3% during the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the company’s stock worth $36,000 after buying an additional 171 shares during the period. GAMMA Investing LLC grew 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 buying an additional 294 shares during the period. KBC Group NV grew 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 buying an additional 318 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Impinj during the fourth quarter worth approximately $156,000.

Impinj Price Performance

Shares of PI stock opened at $159.97 on Thursday. The company has a market capitalization of $4.65 billion, a PE ratio of 16,013.01 and a beta of 1.74. The firm has a fifty day simple moving average of $118.39 and a 200-day simple moving average of $105.72. The company has a current ratio of 11.64, a quick ratio of 8.44 and a debt-to-equity ratio of 1.51. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.08. The business had revenue of $97.89 million during the quarter, compared to the consensus estimate of $93.78 million. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. Equities research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PI has been the subject of several research reports. Piper Sandler boosted their price objective on shares of Impinj from $140.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Cantor Fitzgerald boosted their price objective on shares of Impinj from $133.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Evercore ISI boosted their price objective on shares of Impinj from $99.00 to $117.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Susquehanna boosted their price objective on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research note on Tuesday, July 22nd. Finally, Needham & Company LLC upped their target price on shares of Impinj from $115.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.29.

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.