Impinj, Inc. (NASDAQ:PI) Stake Reduced by Pachira Investments Inc.

Pachira Investments Inc. trimmed its stake in Impinj, Inc. (NASDAQ:PI) by 1.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,071 shares of the company’s stock after selling 60 shares during the quarter. Impinj makes up about 0.5% of Pachira Investments Inc.’s investment portfolio, making the stock its 29th largest holding. Pachira Investments Inc.’s holdings in Impinj were worth $665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj during the first quarter valued at approximately $32,000. SouthState Corp bought a new stake in shares of Impinj in the 2nd quarter worth $94,000. nVerses Capital LLC lifted its holdings in shares of Impinj by 75.0% in the second 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 period. Benjamin F. Edwards & Company Inc. boosted its stake in Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after buying an additional 521 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. grew its holdings in Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after acquiring an additional 549 shares during the period.

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total value of $313,261.76. Following the completion of the sale, the chief executive officer now directly owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Impinj news, CFO Cary Baker sold 366 shares of Impinj stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78. Following the sale, the chief financial officer now owns 71,096 shares in the company, valued at $16,908,761.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total transaction of $313,261.76. Following the transaction, the chief executive officer now owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,779 shares of company stock valued at $3,825,046. Insiders own 51.00% of the company’s stock.

Impinj Price Performance

PI opened at $218.30 on Friday. The company has a market capitalization of $6.14 billion, a PE ratio of 752.76 and a beta of 1.80. The business has a 50-day moving average of $190.77 and a 200-day moving average of $165.79. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. During the same quarter last year, the firm earned ($0.14) EPS. Impinj’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities research analysts expect that Impinj, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PI. Cantor Fitzgerald reissued an “overweight” rating and issued a $205.00 price target on shares of Impinj in a report on Thursday, July 25th. Piper Sandler restated an “overweight” rating and set a $225.00 target price (up from $180.00) on shares of Impinj in a report on Friday, September 27th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Susquehanna upped their target price on Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Finally, Evercore ISI boosted their price target on shares of Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $191.60.

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.