Impinj, Inc. (NASDAQ:PI) Shares Bought by Amalgamated Bank

Amalgamated Bank boosted its stake in Impinj, Inc. (NASDAQ:PI) by 718.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,702 shares of the company’s stock after buying an additional 5,883 shares during the quarter. Amalgamated Bank’s holdings in Impinj were worth $1,451,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PI. Farther Finance Advisors LLC increased its stake in shares of Impinj by 1,084.6% in the 3rd 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 last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj in the 3rd quarter valued at $54,000. SouthState Corp acquired a new position in shares of Impinj in the second quarter valued at approximately $94,000. nVerses Capital LLC increased its position in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after acquiring an additional 300 shares during the period. Finally, Jamison Private Wealth Management Inc. boosted its stake 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.

Impinj Stock Performance

PI opened at $185.76 on Thursday. Impinj, Inc. has a 1 year low of $75.83 and a 1 year high of $239.88. The company’s 50 day simple moving average is $204.57 and its 200 day simple moving average is $175.63. The stock has a market capitalization of $5.25 billion, a PE ratio of 208.72 and a beta of 1.81.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Susquehanna raised their price target on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Piper Sandler reiterated an “overweight” rating and issued a $235.00 target price (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Lake Street Capital upped their target price 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. Finally, The Goldman Sachs Group increased their price objective on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Impinj has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 496 shares of Impinj stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total transaction of $103,748.32. Following the transaction, the chief financial officer now directly owns 70,524 shares of the company’s stock, valued at $14,751,505.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Impinj news, CFO Cary Baker sold 496 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total transaction of $103,748.32. Following the transaction, the chief financial officer now owns 70,524 shares in the company, valued at $14,751,505.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 646,301 shares of company stock worth $129,876,220 over the last three months. 51.00% of the stock is owned by insiders.

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.