Teacher Retirement System of Texas Takes $336,000 Position in Impinj, Inc. (NASDAQ:PI)

Teacher Retirement System of Texas acquired a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,708 shares of the company's stock, valued at approximately $336,000.

Several other hedge funds have also bought and sold shares of the stock. Canada Pension Plan Investment Board purchased a new stake in shares of Impinj in the fourth quarter valued at approximately $29,000. GAMMA Investing LLC lifted its stake in shares of Impinj by 68.7% in the 1st quarter. GAMMA Investing LLC now owns 722 shares of the company's stock valued at $65,000 after purchasing an additional 294 shares in the last quarter. KBC Group NV grew its stake in shares of Impinj by 35.0% in the first quarter. KBC Group NV now owns 1,227 shares of the company's stock valued at $111,000 after buying an additional 318 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Impinj during the 4th quarter valued at approximately $156,000. Finally, Versant Capital Management Inc lifted its holdings in Impinj by 7.2% during the 1st quarter. Versant Capital Management Inc now owns 2,237 shares of the company's stock worth $203,000 after buying an additional 150 shares during the last quarter.

Impinj Stock Performance

PI traded down $0.14 on Friday, hitting $115.98. The company's stock had a trading volume of 250,878 shares, compared to its average volume of 600,188. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The company has a quick ratio of 7.46, a current ratio of 10.96 and a debt-to-equity ratio of 1.77. The firm has a market cap of $3.36 billion, a P/E ratio of -2,898.78 and a beta of 1.64. The company's 50 day simple moving average is $113.95 and its 200-day simple moving average is $106.60.

Impinj (NASDAQ:PI - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.12. The company had revenue of $74.28 million for the quarter, compared to analysts' expectations of $71.73 million. Impinj had a negative net margin of 0.26% and a positive return on equity of 6.45%. The firm's revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. Analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Needham & Company LLC lowered their price target on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Cantor Fitzgerald reissued an "overweight" rating and set a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Piper Sandler reissued an "overweight" rating and set a $100.00 price objective on shares of Impinj in a research report on Thursday, June 12th. Finally, Evercore ISI boosted 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Impinj presently has an average rating of "Moderate Buy" and a consensus target price 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.