Vanguard Group Inc. Has $306.72 Million Position in Impinj, Inc. $PI

Vanguard Group Inc. lowered its stake in shares of Impinj, Inc. (NASDAQ:PI) by 1.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,381,671 shares of the company’s stock after selling 60,493 shares during the period. Vanguard Group Inc. owned approximately 11.67% of Impinj worth $306,718,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Sylebra Capital LLC increased its stake in Impinj by 8.6% in the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock valued at $504,360,000 after acquiring an additional 274,764 shares during the period. Capital International Investors increased its stake in Impinj by 45.0% in the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock valued at $221,897,000 after acquiring an additional 473,721 shares during the period. Janus Henderson Group PLC increased its stake in Impinj by 3,824.4% in the fourth quarter. Janus Henderson Group PLC now owns 435,960 shares of the company’s stock valued at $63,310,000 after acquiring an additional 424,851 shares during the period. Ameriprise Financial Inc. increased its stake in Impinj by 3.4% in the fourth quarter. Ameriprise Financial Inc. now owns 407,391 shares of the company’s stock valued at $59,178,000 after acquiring an additional 13,264 shares during the period. Finally, Squarepoint Ops LLC increased its stake in Impinj by 32.9% in the fourth quarter. Squarepoint Ops LLC now owns 310,743 shares of the company’s stock valued at $45,139,000 after acquiring an additional 76,886 shares during the period.

Impinj Price Performance

Shares of PI stock opened at $161.77 on Monday. The company has a current ratio of 11.64, a quick ratio of 8.44 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 16,193.19 and a beta of 1.74. The firm’s 50 day moving average is $124.65 and its 200-day moving average is $106.63. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.08. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The firm had revenue of $97.89 million during the quarter, compared to analysts’ expectations of $93.78 million. During the same quarter in the previous year, the company posted $0.83 EPS. Impinj’s revenue was down 4.5% on a year-over-year basis. Sell-side analysts forecast that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PI has been the topic of a number of analyst reports. Cantor Fitzgerald upped their target price on shares of Impinj from $133.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Needham & Company LLC upped their price objective on shares of Impinj from $115.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Evercore ISI upped 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. Piper Sandler upped 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. Finally, Susquehanna upped 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Impinj currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.29.

About Impinj

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.