Courier Capital LLC Purchases Shares of 1,000 Impinj, Inc. (NASDAQ:PI)

Courier Capital LLC purchased a new stake in shares of Impinj, Inc. (NASDAQ:PI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,000 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds also recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new stake in Impinj in the second quarter valued at approximately $103,252,000. Jennison Associates LLC acquired a new position in shares of Impinj in the 1st quarter worth approximately $25,747,000. Renaissance Technologies LLC bought a new stake in shares of Impinj in the 2nd quarter valued at $30,116,000. TimesSquare Capital Management LLC acquired a new stake in shares of Impinj during the first quarter worth $19,195,000. Finally, Lord Abbett & CO. LLC bought a new position in Impinj during the first quarter worth $9,659,000.

Insider Buying and Selling at Impinj

In related news, CFO Cary Baker sold 366 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $237.83, for a total value of $87,045.78. Following the completion of the sale, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at approximately $16,908,761.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Impinj news, CFO Cary Baker sold 366 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.83, for a total value of $87,045.78. Following the completion of the sale, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at approximately $16,908,761.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,219 shares of Impinj stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.82, for a total transaction of $289,902.58. Following the transaction, the chief executive officer now directly owns 294,438 shares in the company, valued at approximately $70,023,245.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,779 shares of company stock worth $3,825,046. Insiders own 51.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Needham & Company LLC upped their price target on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Roth Mkm lifted their target price on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Cantor Fitzgerald boosted their price target on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $220.20.

Impinj Trading Down 13.6 %

NASDAQ PI opened at $192.21 on Friday. The company has a market cap of $5.40 billion, a P/E ratio of 662.79 and a beta of 1.80. The company has a fifty day simple moving average of $195.60 and a 200 day simple moving average of $168.43. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business’s revenue was up 46.5% on a year-over-year basis. During the same period last year, the company earned ($0.36) earnings per share. Sell-side analysts predict that Impinj, Inc. will post 0.31 EPS 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.