Marshall Wace LLP Makes New $1.68 Million Investment in Impinj, Inc. (NASDAQ:PI)

Marshall Wace LLP purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,580 shares of the company’s stock, valued at approximately $1,682,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in Impinj in the 4th quarter valued at $33,000. Jones Financial Companies Lllp raised its position in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after buying an additional 175 shares during the last quarter. IFP Advisors Inc raised its position in Impinj by 116.5% in the 4th quarter. IFP Advisors Inc now owns 368 shares of the company’s stock valued at $53,000 after buying an additional 198 shares during the last quarter. Spire Wealth Management purchased a new stake in Impinj in the 4th quarter valued at $87,000. Finally, KBC Group NV raised its position in Impinj by 33.5% in the 4th quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after buying an additional 228 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PI shares. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. The Goldman Sachs Group decreased their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Evercore ISI raised their target price on Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Piper Sandler decreased their target price on Impinj from $140.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, Susquehanna decreased their target price on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Impinj currently has a consensus rating of “Moderate Buy” and an average price target of $160.33.

Insider Buying and Selling

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the transaction, the chief executive officer now owns 354,076 shares of the company’s stock, valued at $34,975,627.28. This represents a 2.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cathal G. Phelan sold 565 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the transaction, the insider now directly owns 7,925 shares in the company, valued at $782,752.25. The trade was a 6.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,857 shares of company stock valued at $1,665,290. Company insiders own 51.00% of the company’s stock.

Impinj Stock Down 0.7 %

NASDAQ PI opened at $90.84 on Tuesday. The company’s 50 day moving average is $84.96 and its 200-day moving average is $135.44. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88. The firm has a market cap of $2.63 billion, a P/E ratio of 66.79 and a beta of 1.74.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.12. The business had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. Impinj’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 EPS. Equities analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

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.