Impinj, Inc. $PI Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,016 shares of the company’s stock after selling 351 shares during the period. Mutual of America Capital Management LLC’s holdings in Impinj were worth $335,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Impinj by 7.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,169 shares of the company’s stock worth $741,000 after purchasing an additional 535 shares during the last quarter. KBC Group NV grew its stake in Impinj by 35.0% in 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 in the last quarter. GAMMA Investing LLC grew its stake in Impinj by 68.7% in the first quarter. GAMMA Investing LLC now owns 722 shares of the company’s stock worth $65,000 after purchasing an additional 294 shares in the last quarter. Truist Financial Corp grew its position in shares of Impinj by 71.1% in the 2nd quarter. Truist Financial Corp now owns 9,065 shares of the company’s stock worth $1,007,000 after acquiring an additional 3,768 shares in the last quarter. Finally, CWM LLC grew its position in shares of Impinj by 3.3% in the 1st quarter. CWM LLC now owns 5,818 shares of the company’s stock worth $528,000 after acquiring an additional 185 shares in the last quarter.

Impinj Trading Up 2.6%

Shares of PI stock opened at $241.91 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 8.44 and a current ratio of 11.64. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $247.06. The stock has a fifty day moving average of $194.68 and a two-hundred day moving average of $143.43. The firm has a market capitalization of $7.04 billion, a PE ratio of 24,215.22 and a beta of 1.83.

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. 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 company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 earnings per share. As a group, research analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PI. Needham & Company LLC reiterated a “buy” rating and set a $195.00 target price on shares of Impinj in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Impinj in a report on Wednesday, October 8th. Susquehanna lifted their price target on shares of Impinj from $180.00 to $235.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Cantor Fitzgerald lifted their price target on shares of Impinj from $158.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Finally, Barclays started coverage on Impinj in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $200.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $189.43.

Insider Buying and Selling at Impinj

In other news, insider Sylebra Capital Llc sold 300,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $196.24, for a total value of $58,872,000.00. Following the completion of the sale, the insider owned 1,829,260 shares in the company, valued at $358,973,982.40. This represents a 14.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 4,096 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $187.63, for a total transaction of $768,532.48. Following the completion of the sale, the chief executive officer owned 297,013 shares of the company’s stock, valued at approximately $55,728,549.19. This trade represents a 1.36% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 324,096 shares of company stock valued at $63,353,832. Insiders own 12.40% of the company’s stock.

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.