Capital Fund Management S.A. Acquires New Stake in Impinj, Inc. (NASDAQ:PI)

Capital Fund Management S.A. bought a new position in shares of Impinj, Inc. (NASDAQ:PI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,398 shares of the company’s stock, valued at approximately $1,801,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Impinj in the 4th quarter worth approximately $40,100,000. Raymond James Financial Inc. acquired a new position in Impinj in the fourth quarter worth approximately $27,699,000. Federated Hermes Inc. increased its holdings in shares of Impinj by 272.6% in the fourth quarter. Federated Hermes Inc. now owns 193,480 shares of the company’s stock valued at $28,105,000 after buying an additional 141,554 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Impinj by 4,013.7% during the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after acquiring an additional 122,579 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock worth $500,009,000 after acquiring an additional 104,861 shares in the last quarter.

Analyst Ratings Changes

PI has been the topic of a number of recent analyst reports. Susquehanna cut their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Needham & Company LLC cut their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Piper Sandler decreased their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.44.

Impinj Stock Down 2.4 %

Impinj stock opened at $66.38 on Wednesday. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The stock has a market cap of $1.89 billion, a P/E ratio of 48.81 and a beta of 1.74. The company’s fifty day simple moving average is $89.85 and its 200-day simple moving average is $145.02.

Impinj (NASDAQ:PI) last announced its quarterly earnings results 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 net margin of 11.15% and a return on equity of 7.11%. On average, equities research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Chris Ph.D. Diorio sold 8,334 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the sale, the chief executive officer now directly owns 354,076 shares in the company, valued at approximately $34,975,627.28. The trade was a 2.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Cary Baker sold 1,553 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the transaction, the chief financial officer now owns 76,451 shares in the company, valued at approximately $7,550,300.76. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,857 shares of company stock valued at $1,665,290 over the last ninety days. Corporate insiders own 51.00% of the company’s stock.

Impinj Company 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.