LMR Partners LLP Buys Shares of 2,686 Impinj, Inc. (NASDAQ:PI)

LMR Partners LLP bought a new stake in Impinj, Inc. (NASDAQ:PI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,686 shares of the company's stock, valued at approximately $390,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PI. Hillsdale Investment Management Inc. lifted its position in Impinj by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company's stock worth $3,586,000 after buying an additional 95 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock worth $1,612,000 after buying an additional 100 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Impinj by 6.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock worth $238,000 after buying an additional 106 shares during the last quarter. Cynosure Group LLC lifted its position in Impinj by 7.8% in the fourth quarter. Cynosure Group LLC now owns 1,953 shares of the company's stock worth $284,000 after buying an additional 142 shares during the last quarter. Finally, Xponance Inc. lifted its position in Impinj by 10.5% in the fourth quarter. Xponance Inc. now owns 1,660 shares of the company's stock worth $241,000 after buying an additional 158 shares during the last quarter.

Insider Activity at Impinj

In other Impinj news, insider Cathal G. Phelan sold 565 shares of Impinj stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the transaction, the insider now owns 7,925 shares in the company, valued at $782,752.25. The trade was a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the transaction, the chief executive officer now owns 354,076 shares in the company, valued at $34,975,627.28. This trade represents a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,857 shares of company stock worth $1,665,290 over the last three months. 12.40% of the stock is owned by corporate insiders.

Impinj Stock Up 0.9%

Shares of PI stock traded up $1.14 on Tuesday, hitting $124.46. The stock had a trading volume of 43,846 shares, compared to its average volume of 592,033. The business has a 50 day moving average price of $88.35 and a 200 day moving average price of $124.18. The company has a market cap of $3.61 billion, a PE ratio of 91.51 and a beta of 1.64. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.12. The firm had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. Equities research analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on PI shares. Susquehanna decreased their target price on Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research report on Wednesday, January 22nd. Needham & Company LLC decreased their target price on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $133.00 target price on shares of Impinj in a research report on Thursday, April 24th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Finally, Evercore ISI lifted their target price on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.38.

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.