BlackRock Inc. Makes New $637.29 Million Investment in Impinj, Inc. $PI

Key Points

• BlackRock acquired 4.45 million Impinj shares worth approximately $637.3 million, giving it a 14.56% stake. Several other institutional investors also initiated positions during the second quarter.
• Analyst sentiment is broadly positive: Impinj has a “Moderate Buy” consensus rating and an average price target of $183.30, with recent target changes ranging from $168 to $190.
• Impinj exceeded quarterly earnings and revenue expectations, reporting $0.86 EPS and $108.37 million in revenue, up 10.7% year over year. However, insiders sold roughly $32.9 million of stock over the past 90 days.

BlackRock Inc. acquired a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,449,389 shares of the company's stock, valued at approximately $637,286,000. BlackRock Inc. owned about 14.56% of Impinj as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deutsche Bank AG purchased a new position in shares of Impinj during the 2nd quarter worth about $14,905,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Impinj in the second quarter worth about $5,438,000. Global Retirement Partners LLC bought a new stake in Impinj in the second quarter worth about $31,000. Bank of New York Mellon Corp bought a new stake in Impinj in the second quarter worth about $23,191,000. Finally, Kelleher Financial Advisors purchased a new position in shares of Impinj during the second quarter valued at approximately $52,000.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PI. Zacks Research raised Impinj from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. Wall Street Zen upgraded Impinj from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Jefferies Financial Group increased 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. Needham & Company LLC reduced their target price on Impinj from $175.00 to $168.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Finally, UBS Group lifted their target price on Impinj from $155.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Impinj currently has an average rating of "Moderate Buy" and an average price target of $183.30.

Impinj Stock Performance

Impinj stock opened at $165.54 on Monday. The company has a 50 day moving average price of $147.22 and a 200-day moving average price of $130.68. 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 fifty-two week low of $87.36 and a fifty-two week high of $247.06. The company has a market capitalization of $5.06 billion, a PE ratio of -179.93 and a beta of 1.94.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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 company had revenue of $108.37 million for the quarter, compared to analysts' expectations of $104.60 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Impinj's revenue was up 10.7% compared to the same quarter last year. Impinj has set its Q3 2026 guidance at 0.590-0.630 EPS. As a group, equities analysts forecast that Impinj, Inc. will post 0.37 earnings per share for the current year.

Insider Transactions at Impinj

In other Impinj news, Director Sylebra Capital Llc sold 12,105 shares of the firm's stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Cary Baker sold 1,429 shares of the business's stock in a transaction dated 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 sale, the chief financial officer owned 88,226 shares of the company's stock, valued at approximately $16,321,810. This represents a 1.59% decrease in their position. 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. Over the last ninety days, insiders sold 240,657 shares of company stock valued at $32,875,156. 6.80% of the stock is owned by insiders.

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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