Brevan Howard Capital Management LP Makes New Investment in Impinj, Inc. (NASDAQ:PI)

Brevan Howard Capital Management LP bought a new position in Impinj, Inc. (NASDAQ:PI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 17,275 shares of the company's stock, valued at approximately $2,509,000. Brevan Howard Capital Management LP owned approximately 0.06% of Impinj at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its stake in Impinj by 3.4% in the 4th quarter. Ameriprise Financial Inc. now owns 407,391 shares of the company's stock worth $59,178,000 after purchasing an additional 13,264 shares in the last quarter. Apis Capital Advisors LLC increased its position in shares of Impinj by 14.3% in the fourth quarter. Apis Capital Advisors LLC now owns 25,600 shares of the company's stock worth $3,719,000 after acquiring an additional 3,200 shares in the last quarter. AXA S.A. raised its holdings in shares of Impinj by 80.0% during the fourth quarter. AXA S.A. now owns 131,464 shares of the company's stock valued at $19,096,000 after acquiring an additional 58,435 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of Impinj by 6.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock valued at $238,000 after acquiring an additional 106 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in shares of Impinj by 138.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 18,821 shares of the company's stock valued at $2,734,000 after acquiring an additional 10,938 shares in the last quarter.

Insiders Place Their Bets

In other news, CFO Cary Baker sold 1,553 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the sale, the chief financial officer now directly owns 76,451 shares of the company's stock, valued at approximately $7,550,300.76. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 565 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.77, for a total transaction of $55,805.05. Following the transaction, the insider now directly owns 7,925 shares in the company, valued at $782,752.25. This trade represents a 6.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,857 shares of company stock valued at $1,665,290 over the last 90 days. 12.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on PI shares. Piper Sandler cut their target price on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. The Goldman Sachs Group decreased their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Evercore ISI upped their target price on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Susquehanna decreased their price target on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Impinj currently has a consensus rating of "Moderate Buy" and an average target price of $160.33.

Impinj Stock Up 2.2 %

Shares of PI traded up $2.18 during mid-day trading on Friday, hitting $100.00. 486,747 shares of the company's stock were exchanged, compared to its average volume of 586,478. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 73.53 and a beta of 1.64. The firm has a fifty day moving average of $85.33 and a two-hundred day moving average of $128.48. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88.

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