Assenagon Asset Management S.A. Invests $879,000 in Impinj, Inc. $PI

Key Points

• Assenagon Asset Management acquired 6,138 Impinj shares worth approximately $879,000 in the second quarter, joining several other institutions that recently initiated or increased positions.
• Impinj reported quarterly adjusted earnings of $0.86 per share, beating estimates by $0.06, while revenue rose 10.7% year over year to $108.37 million. Shares opened at $172.65, down 3.4%, with a 52-week range of $87.36 to $247.06.
• Insiders sold roughly 240,657 shares valued at $32.9 million during the last quarter, although analysts remain broadly positive, assigning the stock a “Moderate Buy” consensus rating and an average price target of $179.22.

Assenagon Asset Management S.A. acquired a new stake in Impinj, Inc. (NASDAQ:PI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,138 shares of the company's stock, valued at approximately $879,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PI. Western Wealth Management LLC purchased a new position in Impinj in the first quarter worth approximately $28,000. Danske Bank A S acquired a new position in Impinj during the 4th quarter worth approximately $35,000. Advisors Asset Management Inc. increased its position in shares of Impinj by 39.9% in the 1st quarter. Advisors Asset Management Inc. now owns 491 shares of the company's stock valued at $45,000 after purchasing an additional 140 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Impinj by 41.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 340 shares of the company's stock valued at $59,000 after purchasing an additional 100 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Impinj in the 4th quarter valued at $60,000.

Insiders Place Their Bets

In other Impinj news, Director Sylebra Capital Llc sold 12,105 shares of the firm's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $127.36, for a total transaction of $1,541,692.80. Following the transaction, the director directly owned 782,943 shares of the company's stock, valued at approximately $99,715,620.48. This trade represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Cary Baker sold 1,429 shares of Impinj stock in a transaction on Monday, August 10th. The shares were sold at an average price of $185.00, for a total transaction of $264,365.00. Following the completion of the transaction, the chief financial officer owned 88,226 shares in the company, valued at approximately $16,321,810. This represents a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 240,657 shares of company stock valued at $32,875,156. 6.80% of the stock is owned by company insiders.

Impinj Stock Down 3.4%

Shares of NASDAQ PI opened at $172.65 on Friday. The stock has a market cap of $5.27 billion, a PE ratio of -187.66 and a beta of 1.94. The company has a quick ratio of 2.29, a current ratio of 3.28 and a debt-to-equity ratio of 0.80. Impinj, Inc. has a 52-week low of $87.36 and a 52-week high of $247.06. The business has a 50-day moving average price of $143.42 and a 200 day moving average price of $130.40.

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

Analyst Ratings Changes

PI has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price objective on shares of Impinj in a research report on Thursday, July 30th. Barclays increased their target price on Impinj from $169.00 to $176.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Evercore set a $144.00 price target on Impinj in a research note on Thursday, April 30th. UBS Group lifted their price target on Impinj from $155.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Finally, Zacks Research raised Impinj from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $179.22.

Impinj Company Profile

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).

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