Public Sector Pension Investment Board Purchases Shares of 48,300 Impinj, Inc. (NASDAQ:PI)

Public Sector Pension Investment Board acquired a new stake in shares of Impinj, Inc. (NASDAQ:PI) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 48,300 shares of the company’s stock, valued at approximately $10,458,000. Public Sector Pension Investment Board owned about 0.17% of Impinj as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in PI. Farther Finance Advisors LLC raised its position in 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 purchasing an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in Impinj in the third quarter worth about $54,000. SouthState Corp acquired a new position in Impinj in the second quarter worth about $94,000. nVerses Capital LLC raised its position in Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. raised its position in Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after purchasing an additional 549 shares in the last quarter.

Impinj Stock Down 3.2 %

Shares of NASDAQ PI opened at $189.25 on Friday. The company’s fifty day moving average is $206.14 and its 200-day moving average is $177.58. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 212.64 and a beta of 1.81. Impinj, Inc. has a twelve month low of $78.17 and a twelve month high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same period last year, the business posted ($0.36) earnings per share. The firm’s quarterly revenue was up 46.5% on a year-over-year basis. On average, research analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling at Impinj

In other news, CFO Cary Baker sold 496 shares of Impinj stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the transaction, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. This trade represents a 14.81 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 655,674 shares of company stock worth $131,623,305. Insiders own 51.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PI. Lake Street Capital increased their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Susquehanna raised their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Cantor Fitzgerald raised their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC raised their price objective on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $224.60.

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.