Jennison Associates LLC Reduces Position in Impinj, Inc. $PI

Jennison Associates LLC trimmed its holdings in Impinj, Inc. (NASDAQ:PI) by 55.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 108,882 shares of the company’s stock after selling 133,622 shares during the period. Jennison Associates LLC’s holdings in Impinj were worth $11,182,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Impinj by 85.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,889 shares of the company’s stock valued at $5,775,000 after acquiring an additional 13,759 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Impinj by 63.5% during the fourth quarter. Intech Investment Management LLC now owns 18,532 shares of the company’s stock valued at $3,225,000 after purchasing an additional 7,194 shares during the last quarter. Aberdeen Group plc raised its holdings in shares of Impinj by 193.8% during the fourth quarter. Aberdeen Group plc now owns 68,387 shares of the company’s stock valued at $11,900,000 after purchasing an additional 45,112 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in Impinj by 36.4% during the first quarter. Stephens Investment Management Group LLC now owns 79,531 shares of the company’s stock valued at $8,168,000 after purchasing an additional 21,205 shares during the period. Finally, Baillie Gifford & Co. purchased a new stake in Impinj in the fourth quarter worth approximately $17,880,000.

Wall Street Analysts Forecast Growth

PI has been the subject of a number of research analyst reports. Evercore set a $144.00 target price on shares of Impinj in a research report on Thursday, April 30th. Wall Street Zen cut Impinj from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded Impinj from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Impinj in a report on Thursday, April 30th. Finally, UBS Group lifted their price objective on Impinj from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Impinj has a consensus rating of “Hold” and a consensus target price of $175.00.

Impinj Stock Performance

PI opened at $136.03 on Wednesday. The company’s 50 day moving average is $138.68 and its 200 day moving average is $132.98. The company has a current ratio of 9.20, a quick ratio of 6.55 and a debt-to-equity ratio of 1.18. The company has a market cap of $4.14 billion, a price-to-earnings ratio of -147.86 and a beta of 1.92. Impinj, Inc. has a 12-month low of $87.36 and a 12-month high of $247.06.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, April 29th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Impinj had a negative net margin of 7.66% and a positive return on equity of 5.67%. The business had revenue of $74.25 million during the quarter, compared to analysts’ expectations of $72.53 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Impinj has set its Q2 2026 guidance at 0.770-0.820 EPS. On average, equities research analysts predict that Impinj, Inc. will post 0.28 EPS for the current year.

Insider Activity

In other news, Director Sylebra Capital Llc sold 12,105 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $127.36, for a total transaction of $1,541,692.80. Following the completion of the sale, the director owned 782,943 shares of the company’s stock, valued at $99,715,620.48. The trade was a 1.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 265,124 shares of company stock worth $36,565,887. Insiders own 6.80% of the company’s stock.

Impinj Profile

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj’s platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj’s product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).