California State Teachers Retirement System Grows Holdings in Impinj, Inc. $PI

Key Points

• California State Teachers Retirement System increased its Impinj stake by 1.3% in the second quarter, bringing its holdings to 34,338 shares worth approximately $4.92 million.
• Analyst sentiment remains generally positive, with seven Buy ratings and a consensus “Moderate Buy” rating; the average price target is $183.30, despite Zacks downgrading the stock to Hold.
• Impinj beat quarterly expectations with $0.86 in earnings per share and $108.37 million in revenue, up 10.7% year over year. Shares recently traded at $172.53, while the company guided for third-quarter EPS of $0.59–$0.63.

California State Teachers Retirement System lifted its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,338 shares of the company's stock after purchasing an additional 436 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Impinj worth $4,918,232 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PI. Swiss Life Asset Management Ltd grew its position in Impinj by 7.6% during the 4th quarter. Swiss Life Asset Management Ltd now owns 1,298 shares of the company's stock worth $226,000 after purchasing an additional 92 shares in the last quarter. Kennedy Capital Management LLC increased its position in shares of Impinj by 0.5% during the 4th quarter. Kennedy Capital Management LLC now owns 28,169 shares of the company's stock worth $4,902,000 after purchasing an additional 147 shares during the last quarter. SFE Investment Counsel increased its position in Impinj by 4.6% during the 1st quarter. SFE Investment Counsel now owns 3,525 shares of the company's stock worth $362,000 after buying an additional 155 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Impinj by 5.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,081 shares of the company's stock valued at $316,000 after purchasing an additional 157 shares in the last quarter. Finally, TOP Private Wealth LLC. bought a new position in shares of Impinj in the 2nd quarter worth about $25,000.

Insider Buying and Selling at Impinj

In other news, CFO Cary Baker sold 1,429 shares of the business's 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 sale, the chief financial officer directly owned 88,226 shares of the company's stock, valued at $16,321,810. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on PI. Zacks Research downgraded Impinj from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 target price on shares of Impinj in a research report on Thursday, July 30th. Needham & Company LLC decreased their target price on shares of Impinj from $175.00 to $168.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. BMO Capital Markets began coverage on Impinj in a report on Thursday, August 20th. They issued an "outperform" rating and a $220.00 price objective for the company. Finally, Wall Street Zen upgraded Impinj from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $183.30.

Impinj Stock Performance

NASDAQ PI traded down $0.56 on Tuesday, reaching $172.53. The stock had a trading volume of 157,515 shares, compared to its average volume of 543,675. The firm has a fifty day moving average of $158.63 and a two-hundred day moving average of $135.73. The company has a market cap of $5.27 billion, a P/E ratio of -187.53 and a beta of 1.92. Impinj, Inc. has a 1-year low of $87.36 and a 1-year high of $247.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.28 and a quick ratio of 2.29.

Impinj (NASDAQ:PI - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $104.60 million. Impinj had a positive return on equity of 5.23% and a negative net margin of 7.26%.The business's revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned $0.80 EPS. Impinj has set its Q3 2026 guidance at 0.590-0.630 EPS. On average, equities research analysts anticipate that Impinj, Inc. will post 0.37 EPS for the current year.

Impinj Profile

Impinj, Inc develops radio-frequency identification (RFID) technologies that connect everyday physical items to the digital world. The company's platform is based primarily on RAIN RFID, a passive, battery-free wireless technology used to identify, locate and monitor tagged objects.

Impinj offers RFID endpoint integrated circuits, readers, gateways, antennas and software designed to work together across the item-to-cloud connectivity chain. Its solutions are used in applications such as retail inventory management, supply-chain and logistics operations, asset tracking, healthcare, manufacturing and other industrial settings.

Founded in 2000 and headquartered in Seattle, Washington, Impinj serves customers and partners globally through its technology platform and ecosystem.

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