Impinj, Inc. (NASDAQ:PI) Shares Purchased by Entropy Technologies LP

Entropy Technologies LP boosted its position in shares of Impinj, Inc. (NASDAQ:PI) by 9.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,724 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Entropy Technologies LP’s holdings in Impinj were worth $1,023,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Impinj in the third quarter valued at $54,000. SouthState Corp acquired a new stake in Impinj during the 2nd quarter worth about $94,000. nVerses Capital LLC raised its stake in shares of Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its holdings in shares of Impinj by 211.2% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after buying an additional 549 shares during the period.

Insider Buying and Selling at Impinj

In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total value of $313,261.76. Following the completion of the sale, the chief executive officer now directly owns 292,532 shares in the company, valued at $61,174,291.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of Impinj stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total value of $313,261.76. Following the transaction, the chief executive officer now owns 292,532 shares in the company, valued at approximately $61,174,291.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 646,301 shares of company stock worth $129,876,220. Corporate insiders own 51.00% of the company’s stock.

Wall Street Analyst Weigh In

PI has been the subject of several recent research reports. Susquehanna lifted their price target on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Roth Mkm raised their price target on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Cantor Fitzgerald upped their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Stock Down 4.6 %

PI opened at $185.76 on Thursday. Impinj, Inc. has a twelve month low of $75.83 and a twelve month high of $239.88. The company has a market cap of $5.25 billion, a PE ratio of 208.72 and a beta of 1.81. The company has a 50-day moving average price of $204.57 and a 200 day moving average price of $175.63.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business’s revenue was up 46.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.36) earnings per share. As a group, sell-side analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current 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.