Creative Planning Buys 2,287 Shares of Impinj, Inc. (NASDAQ:PI)

Creative Planning grew its stake in shares of Impinj, Inc. (NASDAQ:PI) by 23.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,046 shares of the company’s stock after purchasing an additional 2,287 shares during the period. Creative Planning’s holdings in Impinj were worth $2,608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Hsbc Holdings PLC grew its stake in Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after purchasing an additional 190 shares during the period. Rhumbline Advisers boosted its holdings in shares of Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock valued at $5,158,000 after buying an additional 248 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj in the 3rd quarter worth about $54,000. Arizona State Retirement System increased its stake in shares of Impinj by 4.1% in the 2nd quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock worth $1,032,000 after acquiring an additional 261 shares in the last quarter. Finally, USA Financial Formulas boosted its stake in Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after acquiring an additional 296 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research report on Thursday. Piper Sandler restated an “overweight” rating and set a $235.00 price target (up from $225.00) on shares of Impinj in a report on Thursday. Susquehanna upped their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Cantor Fitzgerald raised their price objective on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $224.60.

Insider Buying and Selling at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CRO Jeffrey Dossett sold 15,000 shares of Impinj stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the transaction, the executive now directly owns 63,642 shares of the company’s stock, valued at $10,043,344.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 21,779 shares of company stock worth $3,825,046 in the last three months. 51.00% of the stock is currently owned by company insiders.

Impinj Stock Up 4.4 %

Shares of NASDAQ PI opened at $200.70 on Friday. The firm’s 50-day moving average price is $196.40 and its 200-day moving average price is $169.26. Impinj, Inc. has a 52-week low of $58.56 and a 52-week high of $239.88. The company has a market cap of $5.64 billion, a PE ratio of 692.07 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter last year, the company posted ($0.36) earnings per share. The firm’s quarterly revenue was up 46.5% on a year-over-year basis. As a group, equities research analysts anticipate that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Impinj Company 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.