Point72 Hong Kong Ltd Invests $1.13 Million in Impinj, Inc. (NASDAQ:PI)

Point72 Hong Kong Ltd purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,762 shares of the company’s stock, valued at approximately $1,128,000.

A number of other large investors have also made changes to their positions in PI. Inspire Investing LLC increased its position in shares of Impinj by 45.0% during the fourth quarter. Inspire Investing LLC now owns 2,752 shares of the company’s stock worth $400,000 after purchasing an additional 854 shares in the last quarter. Jamison Private Wealth Management Inc. increased its position in shares of Impinj by 91.9% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 2,638 shares of the company’s stock worth $383,000 after purchasing an additional 1,263 shares in the last quarter. KBC Group NV increased its position in shares of Impinj by 33.5% during the fourth quarter. KBC Group NV now owns 909 shares of the company’s stock worth $132,000 after purchasing an additional 228 shares in the last quarter. Stordahl Capital Management Inc. acquired a new position in shares of Impinj during the fourth quarter worth $363,000. Finally, Spire Wealth Management acquired a new position in shares of Impinj during the fourth quarter worth $87,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PI shares. Evercore ISI boosted their price objective on shares of Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th. The Goldman Sachs Group dropped their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Finally, Piper Sandler dropped their price objective on shares of Impinj from $140.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $155.38.

Insider Buying and Selling at Impinj

In other Impinj news, CFO Cary Baker sold 1,553 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now owns 76,451 shares in the company, valued at approximately $7,550,300.76. This represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jeffrey Dossett sold 2,666 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $263,427.46. Following the completion of the transaction, the executive now owns 71,886 shares of the company’s stock, valued at approximately $7,103,055.66. This trade represents a 3.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,857 shares of company stock valued at $1,665,290. 12.40% of the stock is owned by insiders.

Impinj Stock Performance

NASDAQ:PI opened at $121.75 on Friday. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 89.52 and a beta of 1.64. The firm’s fifty day moving average is $87.10 and its two-hundred day moving average is $126.11.

Impinj (NASDAQ:PI) last posted 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 net margin of 11.15% and a return on equity of 7.11%. The company had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

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.