Algert Global LLC Invests $1.84 Million in Impinj, Inc. $PI

Key Points

• Algert Global LLC acquired 12,860 Impinj shares during the second quarter, establishing a new position valued at approximately $1.84 million.
• Analyst sentiment is broadly positive: Impinj has a consensus “Moderate Buy” rating and an average price target of $183.30, with BMO initiating coverage at “outperform” and a $220 target.
• Impinj’s latest quarterly results exceeded expectations, with EPS of $0.86 versus $0.80 expected and revenue of $108.37 million, up 10.7% year over year; however, insiders sold roughly $25.6 million of shares during the past quarter.

Algert Global LLC acquired a new position in Impinj, Inc. (NASDAQ:PI - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,860 shares of the company's stock, valued at approximately $1,842,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Western Wealth Management LLC acquired a new position in shares of Impinj in the 1st quarter worth approximately $28,000. Global Retirement Partners LLC bought a new position in Impinj during the second quarter worth $31,000. Danske Bank A S bought a new position in Impinj during the fourth quarter worth $35,000. Advisors Asset Management Inc. lifted its holdings in Impinj by 39.9% in the first quarter. Advisors Asset Management Inc. now owns 491 shares of the company's stock valued at $45,000 after buying an additional 140 shares during the period. Finally, Kelleher Financial Advisors acquired a new position in Impinj in the second quarter valued at $52,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PI shares. Weiss Ratings upgraded Impinj from a "sell (e+)" rating to a "sell (d)" rating in a report on Thursday, July 30th. Zacks Research raised Impinj from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. BMO Capital Markets started coverage on Impinj in a research report on Thursday, August 20th. They set an "outperform" rating and a $220.00 target price on the stock. Jefferies Financial Group raised their target price on Impinj from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Wall Street Zen upgraded Impinj from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $183.30.

Impinj Stock Up 1.2%

Shares of NASDAQ:PI opened at $170.06 on Friday. The business's 50 day simple moving average is $150.77 and its two-hundred day simple moving average is $131.48. The firm has a market cap of $5.20 billion, a P/E ratio of -184.85 and a beta of 1.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.29 and a current ratio of 3.28. Impinj, Inc. has a 52-week low of $87.36 and a 52-week high of $247.06.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Impinj had a positive return on equity of 5.23% and a negative net margin of 7.26%.The firm had revenue of $108.37 million during the quarter, compared to the consensus estimate of $104.60 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company's quarterly revenue was up 10.7% on a year-over-year basis. Impinj has set its Q3 2026 guidance at 0.590-0.630 EPS. As a group, research analysts forecast that Impinj, Inc. will post 0.37 EPS for the current fiscal year.

Insider Transactions at Impinj

In other news, Director Sylebra Capital Llc sold 47,479 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $124.06, for a total transaction of $5,890,244.74. Following the completion of the sale, the director directly owned 840,576 shares of the company's stock, valued at $104,281,858.56. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Cary Baker sold 1,429 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $185.00, for a total transaction of $264,365.00. Following the completion of the sale, the chief financial officer owned 88,226 shares in the company, valued at $16,321,810. This represents a 1.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 192,153 shares of company stock valued at $25,561,723 over the last quarter. Corporate insiders own 6.80% of the company's stock.

About Impinj

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj's platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj's product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).

Want to see what other hedge funds are holding PI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Impinj, Inc. (NASDAQ:PI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source