Graham Capital Management L.P. Buys 2,693 Shares of Impinj, Inc. (NASDAQ:PI)

Graham Capital Management L.P. grew its stake in shares of Impinj, Inc. (NASDAQ:PI) by 29.0% during the fourth quarter, HoldingsChannel reports. The firm owned 11,964 shares of the company’s stock after purchasing an additional 2,693 shares during the quarter. Graham Capital Management L.P.’s holdings in Impinj were worth $1,738,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PI. Hillsdale Investment Management Inc. raised its holdings in Impinj by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock worth $3,586,000 after buying an additional 95 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock worth $1,612,000 after buying an additional 100 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Impinj by 6.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company’s stock worth $238,000 after buying an additional 106 shares during the last quarter. Cynosure Group LLC raised its holdings in Impinj by 7.8% in the fourth quarter. Cynosure Group LLC now owns 1,953 shares of the company’s stock worth $284,000 after buying an additional 142 shares during the last quarter. Finally, Xponance Inc. raised its holdings in Impinj by 10.5% in the fourth quarter. Xponance Inc. now owns 1,660 shares of the company’s stock worth $241,000 after buying an additional 158 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have issued reports on PI. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $133.00 target price on shares of Impinj in a report on Thursday, April 24th. The Goldman Sachs Group decreased their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Evercore ISI lifted their target price on shares of Impinj from $99.00 to $117.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Susquehanna decreased their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Finally, StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Impinj presently has an average rating of “Moderate Buy” and an average target price of $160.33.

Insider Buying and Selling at Impinj

In other Impinj news, COO Hussein Mecklai sold 3,739 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $369,450.59. Following the completion of the transaction, the chief operating officer now directly owns 70,347 shares in the company, valued at $6,950,987.07. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cathal G. Phelan sold 565 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the transaction, the insider now owns 7,925 shares of the company’s stock, valued at approximately $782,752.25. The trade was a 6.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,857 shares of company stock valued at $1,665,290. Insiders own 12.40% of the company’s stock.

Impinj Stock Up 2.2%

PI opened at $100.00 on Monday. The firm has a 50 day moving average price of $85.33 and a 200-day moving average price of $127.38. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 73.53 and a beta of 1.64.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The business had revenue of $74.28 million during the quarter, compared to analysts’ expectations of $71.73 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. As a group, analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current year.

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.