Sylebra HK Co Ltd increased its stake in IMPINJ Inc (NASDAQ:PI) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,231,582 shares of the company’s stock after buying an additional 332,519 shares during the quarter. IMPINJ comprises approximately 4.5% of Sylebra HK Co Ltd’s holdings, making the stock its 6th largest holding. Sylebra HK Co Ltd owned approximately 19.83% of IMPINJ worth $55,095,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Rainier Group Investment Advisory LLC bought a new stake in IMPINJ in the first quarter worth $104,000. MetLife Investment Advisors LLC bought a new stake in IMPINJ in the fourth quarter worth $193,000. Oppenheimer & Co. Inc. bought a new stake in IMPINJ in the fourth quarter worth $225,000. Guggenheim Capital LLC lifted its position in IMPINJ by 81.0% in the fourth quarter. Guggenheim Capital LLC now owns 10,701 shares of the company’s stock worth $239,000 after buying an additional 4,790 shares during the last quarter. Finally, LPL Financial LLC lifted its position in IMPINJ by 72.6% in the first quarter. LPL Financial LLC now owns 21,914 shares of the company’s stock worth $285,000 after buying an additional 9,214 shares during the last quarter. Institutional investors own 74.32% of the company’s stock.
A number of research firms have weighed in on PI. BidaskClub upgraded IMPINJ from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 1st. Canaccord Genuity upgraded IMPINJ from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Tuesday, May 8th. Finally, Zacks Investment Research lowered IMPINJ from a “hold” rating to a “sell” rating in a research note on Friday, May 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $25.86.
PI stock traded up $0.34 during midday trading on Thursday, reaching $21.59. The company’s stock had a trading volume of 429 shares, compared to its average volume of 820,489. The company has a quick ratio of 4.67, a current ratio of 8.00 and a debt-to-equity ratio of 0.20. IMPINJ Inc has a 1 year low of $9.95 and a 1 year high of $60.85. The firm has a market cap of $456.46 million, a price-to-earnings ratio of -74.17 and a beta of 2.12.
IMPINJ (NASDAQ:PI) last released its earnings results on Monday, May 7th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.01). IMPINJ had a negative return on equity of 11.89% and a negative net margin of 24.95%. The business had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.95 million. During the same quarter in the previous year, the business earned $0.01 EPS. The business’s revenue for the quarter was down 20.8% on a year-over-year basis. research analysts expect that IMPINJ Inc will post -1.36 EPS for the current year.
Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.
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