Impinj, Inc. (NASDAQ:PI) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC lifted its holdings in Impinj, Inc. (NASDAQ:PI) by 32.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 310,743 shares of the company’s stock after buying an additional 76,886 shares during the period. Squarepoint Ops LLC owned approximately 1.10% of Impinj worth $45,139,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors increased its position in shares of Impinj by 45.0% during the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock valued at $221,897,000 after acquiring an additional 473,721 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Impinj by 3,824.4% during the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company’s stock worth $63,310,000 after acquiring an additional 424,851 shares in the last quarter. Norges Bank acquired a new position in Impinj during the 4th quarter worth approximately $40,100,000. Point72 Asset Management L.P. purchased a new stake in shares of Impinj during the 4th quarter worth approximately $30,697,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Impinj during the 4th quarter worth approximately $27,699,000.

Analyst Ratings Changes

Several analysts recently commented on the stock. Needham & Company LLC reduced their price target on shares of Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Piper Sandler cut their price target on shares of Impinj from $140.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Evercore ISI increased their price target on shares of Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. The Goldman Sachs Group lowered their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $133.00 price target on shares of Impinj in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.38.

Insider Activity

In other Impinj news, 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 transaction of $263,427.46. Following the completion of the sale, the executive now owns 71,886 shares in the company, valued at $7,103,055.66. The trade was a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.78, for a total transaction of $823,232.52. Following the sale, the chief executive officer now owns 354,076 shares of the company’s stock, valued at approximately $34,975,627.28. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,857 shares of company stock worth $1,665,290 over the last 90 days. Company insiders own 12.40% of the company’s stock.

Impinj Stock Performance

NASDAQ PI opened at $123.32 on Tuesday. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88. The company’s 50 day moving average price is $88.35 and its 200 day moving average price is $124.18. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 90.68 and a beta of 1.64.

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. The firm had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. Impinj’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. Sell-side analysts forecast that Impinj, Inc. will post -0.47 EPS 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.