Deltec Asset Management LLC Acquires New Holdings in Impinj, Inc. (NASDAQ:PI)

Deltec Asset Management LLC bought a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,700 shares of the company's stock, valued at approximately $336,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sylebra Capital LLC raised its holdings in Impinj by 8.6% during the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock worth $504,360,000 after buying an additional 274,764 shares during the last quarter. Vanguard Group Inc. increased its holdings in Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock worth $500,009,000 after purchasing an additional 104,861 shares in the last quarter. Capital International Investors raised its stake in shares of Impinj by 45.0% in the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after purchasing an additional 473,721 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Impinj by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock valued at $79,654,000 after buying an additional 3,899 shares during the last quarter. Finally, Janus Henderson Group PLC lifted 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 acquiring an additional 424,851 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PI shares. Evercore ISI raised their target price on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Needham & Company LLC lowered 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. Cantor Fitzgerald restated an "overweight" rating and set a $133.00 target price on shares of Impinj in a research report on Thursday, April 24th. Finally, Piper Sandler reissued an "overweight" rating and set a $100.00 price objective on shares of Impinj in a report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.38.

Impinj Trading Down 0.5%

PI stock traded down $0.55 during trading on Friday, reaching $103.57. The company had a trading volume of 436,653 shares, compared to its average volume of 592,157. 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 52 week low of $60.85 and a 52 week high of $239.88. The company has a market cap of $3.00 billion, a P/E ratio of -2,588.60 and a beta of 1.67. The business has a 50 day moving average of $102.51 and a 200 day moving average of $111.20.

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 analysts' consensus estimates 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 firm had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. During the same period in the prior year, the firm earned $0.21 EPS. The company's revenue was down 3.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Impinj Company 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.