7,277 Shares in Impinj, Inc. (NASDAQ:PI) Acquired by Azzad Asset Management Inc. ADV

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

Several other hedge funds have also added to or reduced their stakes in PI. Capital International Investors raised its stake in Impinj by 45.0% during the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock valued at $221,897,000 after buying an additional 473,721 shares during the last quarter. Janus Henderson Group PLC raised its stake in Impinj by 3,824.4% during the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock valued at $63,310,000 after purchasing an additional 424,851 shares during the period. Norges Bank purchased a new position in shares of Impinj in the fourth quarter worth $40,100,000. Sylebra Capital LLC boosted its holdings in shares of Impinj by 8.6% during the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock valued at $504,360,000 after purchasing an additional 274,764 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Impinj during the 4th quarter valued at approximately $30,697,000.

Wall Street Analysts Forecast Growth

PI has been the subject of several research reports. Evercore ISI increased their price objective on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $100.00 price target on shares of Impinj in a report on Thursday. Cantor Fitzgerald reissued an "overweight" rating and set a $133.00 price objective on shares of Impinj in a research note on Thursday, April 24th. Finally, Needham & Company LLC lowered their price objective on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.38.

Impinj Trading Up 1.3%

Shares of NASDAQ PI traded up $1.40 during midday trading on Monday, hitting $105.79. The company's stock had a trading volume of 633,499 shares, compared to its average volume of 590,711. The business's 50 day moving average is $99.08 and its two-hundred day moving average is $114.08. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88. The firm has a market cap of $3.07 billion, a P/E ratio of 77.79 and a beta of 1.67.

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