TimesSquare Capital Management LLC Raises Position in Impinj, Inc. (NASDAQ:PI)

TimesSquare Capital Management LLC lifted its stake in Impinj, Inc. (NASDAQ:PI) by 92.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,812 shares of the company’s stock after buying an additional 67,510 shares during the period. TimesSquare Capital Management LLC owned approximately 0.50% of Impinj worth $20,454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Los Angeles Capital Management LLC raised its stake in Impinj by 210.2% during the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after buying an additional 5,807 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Impinj during the fourth quarter valued at approximately $3,341,000. Thrivent Financial for Lutherans acquired a new stake in shares of Impinj during the 3rd quarter worth approximately $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Impinj during the 3rd quarter worth approximately $846,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Impinj during the 3rd quarter worth approximately $1,437,000.

Impinj Stock Performance

Shares of NASDAQ:PI opened at $103.11 on Thursday. Impinj, Inc. has a 52-week low of $97.77 and a 52-week high of $239.88. The company has a market capitalization of $2.94 billion, a P/E ratio of 75.82 and a beta of 1.88. The company has a 50-day simple moving average of $134.37 and a 200 day simple moving average of $169.37.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. As a group, equities analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PI. Lake Street Capital increased their price target on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group dropped their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald dropped their price target on Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC dropped their price target on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Evercore ISI reiterated an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $180.10.

Insider Buying and Selling at Impinj

In other Impinj news, CRO Jeffrey Dossett sold 580 shares of Impinj stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $84,714.80. Following the completion of the sale, the executive now directly owns 66,180 shares of the company’s stock, valued at approximately $9,666,250.80. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the sale, the insider now directly owns 6,979 shares of the company’s stock, valued at approximately $1,019,352.74. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,466 shares of company stock worth $789,298 over the last quarter. Corporate insiders own 51.00% of the company’s stock.

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.