Marshall Wace LLP Invests $1.68 Million in Impinj, Inc. (NASDAQ:PI)

Marshall Wace LLP purchased a new position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,580 shares of the company's stock, valued at approximately $1,682,000.

A number of other hedge funds have also made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Impinj in the 4th quarter valued at about $33,000. Jones Financial Companies Lllp grew its position in shares of Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after acquiring an additional 175 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Impinj by 116.5% in the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock valued at $53,000 after acquiring an additional 198 shares during the period. Spire Wealth Management purchased a new stake in Impinj in the 4th quarter valued at $87,000. Finally, KBC Group NV boosted its stake in Impinj by 33.5% during the 4th quarter. KBC Group NV now owns 909 shares of the company's stock worth $132,000 after purchasing an additional 228 shares during the period.

Insiders Place Their Bets

In other Impinj news, insider Cathal G. Phelan sold 565 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the transaction, the insider now directly owns 7,925 shares of the company's stock, valued at $782,752.25. The trade was a 6.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Hussein Mecklai sold 3,739 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $369,450.59. Following the completion of the transaction, the chief operating officer now directly owns 70,347 shares of the company's stock, valued at $6,950,987.07. This trade represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,857 shares of company stock valued at $1,665,290 over the last 90 days. 51.00% of the stock is owned by company insiders.

Impinj Stock Performance

Shares of NASDAQ PI traded up $3.87 during midday trading on Friday, reaching $98.80. 552,814 shares of the company's stock were exchanged, compared to its average volume of 586,823. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88. The business's fifty day moving average price is $84.65 and its two-hundred day moving average price is $133.84. The stock has a market capitalization of $2.86 billion, a PE ratio of 72.65 and a beta of 1.74.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.12. The business had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share. Analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PI has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Needham & Company LLC reduced their target price on shares of Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Susquehanna reduced their price target on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research note on Wednesday, January 22nd. The Goldman Sachs Group lowered their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Finally, StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.33.

Impinj Company 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.