Polymer Capital Management HK LTD Purchases Shares of 13,500 Impinj, Inc. (NASDAQ:PI)

Polymer Capital Management HK LTD acquired a new position in shares of Impinj, Inc. (NASDAQ:PI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 13,500 shares of the company’s stock, valued at approximately $1,961,000.

Other hedge funds have also modified their holdings of the company. National Bank of Canada FI acquired a new position in Impinj during the third quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Impinj during the 4th quarter worth $33,000. Jones Financial Companies Lllp raised its position in shares of Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after buying an additional 175 shares during the period. IFP Advisors Inc raised its position in shares of Impinj by 116.5% in the 4th quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after buying an additional 198 shares during the period. Finally, Spire Wealth Management acquired a new position in Impinj in the fourth quarter valued at $87,000.

Impinj Stock Performance

Shares of NASDAQ PI opened at $73.00 on Friday. Impinj, Inc. has a 1 year low of $68.07 and a 1 year high of $239.88. The stock’s 50-day simple moving average is $100.18 and its 200-day simple moving average is $153.35. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 53.68 and a beta of 1.74.

Impinj (NASDAQ:PI) last posted 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, research analysts predict that Impinj, Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 290 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $140.96, for a total transaction of $40,878.40. Following the completion of the sale, the chief financial officer now owns 71,754 shares in the company, valued at $10,114,443.84. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chris Ph.D. Diorio sold 841 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $118,597.82. Following the completion of the transaction, the chief executive officer now owns 333,856 shares in the company, valued at approximately $47,080,373.12. The trade was a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock valued at $1,925,748 in the last ninety days. Corporate insiders own 51.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PI shares. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Piper Sandler dropped their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Susquehanna reduced their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. Cantor Fitzgerald upgraded Impinj to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC decreased their target price on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.44.

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.