Geode Capital Management LLC Has $117.58 Million Holdings in Impinj, Inc. (NASDAQ:PI)

Geode Capital Management LLC boosted its stake in Impinj, Inc. (NASDAQ:PI) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 542,924 shares of the company’s stock after buying an additional 7,676 shares during the period. Geode Capital Management LLC’s holdings in Impinj were worth $117,576,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. First Bank & Trust increased its holdings in shares of Impinj by 3.2% during the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after buying an additional 55 shares in the last quarter. National Bank of Canada FI acquired a new stake in Impinj during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC raised its position in Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. KBC Group NV grew its holdings in Impinj by 29.7% during the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after acquiring an additional 156 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after acquiring an additional 190 shares in the last quarter.

Impinj Trading Down 1.4 %

Impinj stock opened at $148.06 on Wednesday. The firm has a market capitalization of $4.19 billion, a P/E ratio of 166.36 and a beta of 1.80. The business has a 50-day moving average of $194.11 and a 200-day moving average of $177.81. Impinj, Inc. has a 1 year low of $78.17 and a 1 year high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.36) earnings per share. Research analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PI. Cantor Fitzgerald increased their price target on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Susquehanna lifted their target price on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Insider Activity at Impinj

In other news, major shareholder Sylebra Capital Llc sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $203.00, for a total value of $50,750,000.00. Following the completion of the transaction, the insider now owns 2,222,352 shares in the company, valued at $451,137,456. This represents a 10.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jeffrey Dossett sold 7,500 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the sale, the executive now owns 65,294 shares in the company, valued at approximately $11,829,313.98. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 655,674 shares of company stock worth $131,623,305 in the last quarter. Corporate insiders own 51.00% of the company’s stock.

About Impinj

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.