Canada Pension Plan Investment Board Takes Position in Impinj, Inc. (NASDAQ:PI)

Canada Pension Plan Investment Board purchased a new position in Impinj, Inc. (NASDAQ:PI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,300 shares of the company’s stock, valued at approximately $1,520,000. Canada Pension Plan Investment Board owned 0.16% of Impinj as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Citigroup Inc. grew its stake in Impinj by 243.5% in the fourth quarter. Citigroup Inc. now owns 3,476 shares of the company’s stock worth $146,000 after purchasing an additional 2,464 shares during the period. Arizona State Retirement System bought a new stake in Impinj in the fourth quarter worth $208,000. Aries Wealth Management bought a new stake in Impinj in the fourth quarter worth $242,000. XR Securities LLC bought a new stake in Impinj in the fourth quarter worth $239,000. Finally, Fortis Group Advisors LLC bought a new stake in Impinj in the third quarter worth $158,000. 85.57% of the stock is currently owned by institutional investors.

Shares of NASDAQ:PI opened at $54.19 on Thursday. The company has a market cap of $1.27 billion, a P/E ratio of -27.93 and a beta of 2.56. The company has a debt-to-equity ratio of 0.49, a current ratio of 8.38 and a quick ratio of 6.44. Impinj, Inc. has a 1 year low of $15.07 and a 1 year high of $79.05. The stock’s fifty day moving average price is $60.62 and its 200-day moving average price is $45.76.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, February 10th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. The company had revenue of $36.45 million during the quarter, compared to analysts’ expectations of $36.32 million. Impinj had a negative return on equity of 26.61% and a negative net margin of 30.63%. Impinj’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, sell-side analysts anticipate that Impinj, Inc. will post -1.67 earnings per share for the current year.

Several research firms have commented on PI. Canaccord Genuity boosted their target price on Impinj from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, February 10th. Roth Capital boosted their target price on Impinj from $31.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, February 11th. Morgan Stanley boosted their target price on Impinj from $53.00 to $58.00 and gave the stock an “equal weight” rating in a report on Thursday, February 11th. Colliers Securities boosted their target price on Impinj from $61.00 to $82.00 in a report on Thursday, February 11th. Finally, The Goldman Sachs Group upped their price target on Impinj from $46.00 to $53.00 and gave the company a “buy” rating in a report on Monday, December 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $70.38.

In related news, Director Oppen Peter H. Van sold 25,000 shares of the company’s stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $70.60, for a total transaction of $1,765,000.00. Following the completion of the sale, the director now owns 43,617 shares in the company, valued at $3,079,360.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 1,543 shares of the company’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $58.73, for a total value of $90,620.39. Following the sale, the chief executive officer now owns 288,581 shares of the company’s stock, valued at approximately $16,948,362.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,984 shares of company stock valued at $2,922,905. 25.70% of the stock is owned by company insiders.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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Institutional Ownership by Quarter for Impinj (NASDAQ:PI)

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