Impinj, Inc. (NASDAQ:PI) Position Raised by Driehaus Capital Management LLC

Driehaus Capital Management LLC increased its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 176.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,714 shares of the company's stock after purchasing an additional 136,277 shares during the period. Driehaus Capital Management LLC owned approximately 0.76% of Impinj worth $31,044,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PI. Canada Pension Plan Investment Board bought a new position in shares of Impinj in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new stake in Impinj during the fourth quarter worth about $33,000. Jones Financial Companies Lllp grew its position in Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock valued at $38,000 after acquiring an additional 175 shares during the last quarter. IFP Advisors Inc raised its position in Impinj by 116.5% in the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after purchasing an additional 198 shares during the period. Finally, Spire Wealth Management purchased a new stake in Impinj during the 4th quarter valued at about $87,000.

Insider Transactions at Impinj

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were 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 $34,975,627.28. This trade represents a 2.30% decrease in their position. The sale 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 firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $369,450.59. Following the sale, the chief operating officer now directly owns 70,347 shares in the company, valued at $6,950,987.07. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,857 shares of company stock worth $1,665,290. 12.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PI shares. The Goldman Sachs Group dropped their target price 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. Evercore ISI lifted their price target on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Susquehanna cut their target price on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research note on Wednesday, January 22nd. Piper Sandler decreased their price objective on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $133.00 target price on shares of Impinj in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $155.38.

Impinj Stock Performance

PI traded down $1.14 during trading on Wednesday, hitting $120.68. The stock had a trading volume of 459,414 shares, compared to its average volume of 591,263. The stock has a 50 day simple moving average of $86.26 and a two-hundred day simple moving average of $126.72. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88. The company has a market capitalization of $3.50 billion, a PE ratio of 88.74 and a beta of 1.64.

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