23,623 Shares in Impinj, Inc. (NASDAQ:PI) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Impinj, Inc. (NASDAQ:PI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,623 shares of the company’s stock, valued at approximately $3,431,000.

Several other hedge funds have also added to or reduced their stakes in the business. Capital International Investors grew its position in shares of Impinj by 45.0% in the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock valued at $221,897,000 after purchasing an additional 473,721 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Impinj by 3,824.4% in the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company’s stock valued at $63,310,000 after purchasing an additional 424,851 shares during the period. Norges Bank bought a new stake in Impinj in the 4th quarter valued at $40,100,000. Sylebra Capital LLC grew its holdings in Impinj by 8.6% in the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock valued at $504,360,000 after buying an additional 274,764 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Impinj during the 4th quarter worth $30,697,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PI. Needham & Company LLC reduced their target price 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. The Goldman Sachs Group dropped their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Evercore ISI boosted their price target on Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Piper Sandler lowered their price objective on Impinj from $140.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $133.00 target price on shares of Impinj in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Impinj has a consensus rating of “Moderate Buy” and an average price target of $155.38.

Impinj Stock Performance

Shares of PI stock opened at $114.31 on Monday. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88. The company has a market cap of $3.31 billion, a PE ratio of 84.05 and a beta of 1.64. The stock’s fifty day moving average price is $92.76 and its two-hundred day moving average price is $119.17.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.09 by $0.12. The firm had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. On average, equities analysts predict 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.