Azzad Asset Management Inc. ADV Takes Position in Impinj, Inc. (NASDAQ:PI)

Azzad Asset Management Inc. ADV purchased a new stake in Impinj, Inc. (NASDAQ:PI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,277 shares of the company's stock, valued at approximately $660,000.

A number of other large investors also recently bought and sold shares of PI. Louisiana State Employees Retirement System lifted its position in shares of Impinj by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock valued at $1,612,000 after buying an additional 100 shares in the last quarter. Van ECK Associates Corp raised its position in Impinj by 248.8% during the fourth quarter. Van ECK Associates Corp now owns 4,928 shares of the company's stock worth $716,000 after acquiring an additional 3,515 shares during the period. Asset Management One Co. Ltd. lifted its holdings in Impinj by 85.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company's stock valued at $174,000 after purchasing an additional 542 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of Impinj by 43.1% in the fourth quarter. New York State Teachers Retirement System now owns 7,441 shares of the company's stock valued at $1,081,000 after purchasing an additional 2,241 shares during the period. Finally, Peregrine Investment Management Inc. purchased a new stake in shares of Impinj during the fourth quarter worth about $3,777,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PI. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $133.00 price target on shares of Impinj in a research note on Thursday, April 24th. Evercore ISI boosted their target price on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Piper Sandler restated an "overweight" rating and issued a $100.00 price target on shares of Impinj in a research report on Thursday, June 12th. Finally, Needham & Company LLC reduced their price objective on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Impinj currently has a consensus rating of "Moderate Buy" and an average target price of $155.38.

Impinj Stock Up 0.1%

Shares of Impinj stock traded up $0.14 on Thursday, reaching $104.12. 309,095 shares of the company were exchanged, compared to its average volume of 590,804. The stock's 50 day moving average price is $101.01 and its 200-day moving average price is $113.34. The company has a debt-to-equity ratio of 1.77, a current ratio of 10.96 and a quick ratio of 7.46. Impinj, Inc. has a 1-year low of $60.85 and a 1-year high of $239.88. The company has a market cap of $3.02 billion, a P/E ratio of -2,602.35 and a beta of 1.67.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly 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 negative net margin of 0.26% and a positive return on equity of 6.45%. The company had revenue of $74.28 million during the quarter, compared to analysts' expectations of $71.73 million. During the same quarter in the previous year, the business posted $0.21 EPS. The firm's revenue was down 3.3% on a year-over-year basis. As a group, equities analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

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.