18,537 Shares in Impinj, Inc. (NASDAQ:PI) Bought by Twinbeech Capital LP

Twinbeech Capital LP bought a new position in Impinj, Inc. (NASDAQ:PI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 18,537 shares of the company’s stock, valued at approximately $2,693,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PI. Canada Pension Plan Investment Board acquired a new position in Impinj in the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new position in Impinj in the 4th quarter worth $33,000. Jones Financial Companies Lllp boosted its stake in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after purchasing an additional 175 shares during the period. IFP Advisors Inc lifted its position in Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after buying an additional 198 shares in the last quarter. Finally, Spire Wealth Management bought a new stake in Impinj during the 4th quarter worth about $87,000.

Insider Activity

In related news, insider Cathal G. Phelan sold 565 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Jeffrey Dossett sold 2,666 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $263,427.46. Following the completion of the sale, the executive now owns 71,886 shares of the company’s stock, valued at $7,103,055.66. This trade represents a 3.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,857 shares of company stock valued at $1,665,290. 12.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

PI has been the topic of several analyst reports. Evercore ISI boosted their price target on shares of Impinj from $99.00 to $117.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Susquehanna cut their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler cut their price target on shares of Impinj from $140.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $133.00 price target on shares of Impinj in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Impinj presently has an average rating of “Moderate Buy” and a consensus price target of $155.38.

Impinj Stock Performance

Shares of PI stock opened at $123.33 on Wednesday. The firm’s 50-day moving average is $89.03 and its 200-day moving average is $124.17. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 90.68 and a beta of 1.64. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. The company had revenue of $74.28 million for the quarter, compared to analysts’ expectations of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. Impinj’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. Sell-side analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

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.