Versor Investments LP Takes $816,000 Position in Impinj, Inc. (NASDAQ:PI)

Versor Investments LP acquired a new stake in Impinj, Inc. (NASDAQ:PI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,617 shares of the company’s stock, valued at approximately $816,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its holdings in Impinj by 1.5% during the third quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after buying an additional 60,461 shares in the last quarter. State Street Corp boosted its holdings in Impinj by 25.7% during the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after buying an additional 220,776 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Impinj by 1.4% during the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after buying an additional 7,676 shares in the last quarter. Jennison Associates LLC boosted its holdings in Impinj by 15.0% during the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after buying an additional 31,269 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Impinj by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock worth $41,840,000 after buying an additional 6,232 shares in the last quarter.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 1,553 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now directly owns 76,451 shares of the company’s stock, valued at approximately $7,550,300.76. The trade was a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the transaction, the chief executive officer now directly owns 354,076 shares of the company’s stock, valued at approximately $34,975,627.28. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,323 shares of company stock valued at $2,454,588. Insiders own 51.00% of the company’s stock.

Impinj Stock Up 5.7 %

Shares of PI stock opened at $96.66 on Friday. Impinj, Inc. has a 12-month low of $89.43 and a 12-month high of $239.88. The company has a market capitalization of $2.76 billion, a P/E ratio of 71.07 and a beta of 1.88. The firm has a 50-day moving average price of $126.92 and a 200 day moving average price of $166.83.

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%. As a group, research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PI shares. Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a report on Thursday. The Goldman Sachs Group reduced their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC reduced their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Susquehanna cut their price target 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. Finally, Piper Sandler decreased their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $180.10.

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.