Impinj, Inc. (NASDAQ:PI) Shares Acquired by Quest Partners LLC

Quest Partners LLC grew its position in Impinj, Inc. (NASDAQ:PI) by 8,454.5% during the third quarter, Holdings Channel.com reports. The firm owned 941 shares of the company’s stock after acquiring an additional 930 shares during the period. Quest Partners LLC’s holdings in Impinj were worth $204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its position 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 valued at $33,000 after buying an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj in the 3rd quarter valued at $54,000. SouthState Corp purchased a new position in shares of Impinj in the 2nd quarter valued at $94,000. nVerses Capital LLC grew its position in shares of Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. grew its position 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 last quarter.

Insiders Place Their Bets

In related news, CRO Jeffrey Dossett sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $181.17, for a total value of $1,358,775.00. Following the completion of the sale, the executive now directly owns 65,294 shares in the company, valued at approximately $11,829,313.98. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction that occurred on 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 completion of the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This trade represents a 14.81 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 655,674 shares of company stock worth $131,623,305. Insiders own 51.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PI. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Needham & Company LLC raised their price objective on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Susquehanna raised their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Piper Sandler reissued an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Evercore ISI reissued an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $224.60.

Impinj Stock Down 3.2 %

Shares of NASDAQ:PI opened at $189.25 on Thursday. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 212.64 and a beta of 1.81. The firm’s 50-day simple moving average is $206.38 and its 200-day simple moving average is $177.50. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88.

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