Teachers Retirement System of The State of Kentucky Buys New Shares in Impinj, Inc. (NASDAQ:PI)

Teachers Retirement System of The State of Kentucky purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,906 shares of the company’s stock, valued at approximately $846,000.

Several other large investors have also added to or reduced their stakes in the company. First Bank & Trust raised 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 purchasing an additional 55 shares during the last quarter. National Bank of Canada FI acquired a new stake in Impinj during the 3rd quarter worth about $30,000. Farther Finance Advisors LLC raised its stake in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares during the last quarter. KBC Group NV raised its stake in shares of Impinj by 29.7% during the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after buying an additional 156 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of 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 buying an additional 190 shares during the period.

Insider Buying and Selling at Impinj

In related news, major shareholder Sylebra Capital Llc sold 32,031 shares of Impinj stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total transaction of $6,257,255.85. Following the transaction, the insider now owns 3,021,548 shares in the company, valued at approximately $590,259,401.80. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 292,532 shares in the company, valued at $61,174,291.84. This trade represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 655,674 shares of company stock worth $131,623,305. Corporate insiders own 51.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PI shares. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. The Goldman Sachs Group increased their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Cantor Fitzgerald lifted their price objective on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC increased their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Impinj Stock Down 4.2 %

PI stock opened at $141.81 on Thursday. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88. The firm has a 50-day simple moving average of $192.37 and a 200-day simple moving average of $177.56. The stock has a market capitalization of $4.01 billion, a P/E ratio of 159.34 and a beta of 1.80.

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

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.