Deutsche Bank AG Increases Stake in Impinj, Inc. (NASDAQ:PI)

Key Points

• Deutsche Bank AG increased its stake in Impinj, Inc. by 12.2% in the first quarter, now owning approximately 0.46% of the company, valued at $12,052,000.
• Analyst ratings for Impinj have improved, with several firms raising their price targets and maintaining an "overweight" or "buy" rating, leading to a consensus rating of "Moderate Buy".
• Impinj reported a quarterly earnings of $0.80 per share, surpassing analysts' expectations and generating $97.89 million in revenue, despite a 4.5% year-over-year decline in revenue.

Deutsche Bank AG increased its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 12.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 132,882 shares of the company's stock after purchasing an additional 14,406 shares during the period. Deutsche Bank AG owned approximately 0.46% of Impinj worth $12,052,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PI. Charles Schwab Investment Management Inc. lifted its position in Impinj by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 214,483 shares of the company's stock valued at $19,454,000 after purchasing an additional 1,085 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in Impinj in the first quarter valued at approximately $952,000. Shufro Rose & Co. LLC lifted its position in Impinj by 235.3% in the first quarter. Shufro Rose & Co. LLC now owns 5,700 shares of the company's stock valued at $517,000 after purchasing an additional 4,000 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Impinj in the first quarter valued at approximately $118,000. Finally, XTX Topco Ltd bought a new stake in Impinj in the first quarter valued at approximately $1,033,000.

Analyst Ratings Changes

Several analysts have weighed in on the company. Cantor Fitzgerald boosted their price objective on Impinj from $133.00 to $158.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Piper Sandler boosted their target price on Impinj from $140.00 to $180.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Evercore ISI boosted their target price on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Needham & Company LLC boosted their target price on Impinj from $115.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Susquehanna boosted their target price on Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Impinj has a consensus rating of "Moderate Buy" and an average price target of $163.29.

Impinj Price Performance

PI opened at $167.37 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 8.44 and a current ratio of 11.64. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88. The stock has a market capitalization of $4.87 billion, a PE ratio of 16,753.75 and a beta of 1.74. The stock's 50 day moving average price is $123.69 and its 200-day moving average price is $106.75.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.08. The company had revenue of $97.89 million for the quarter, compared to analysts' expectations of $93.78 million. Impinj had a return on equity of 8.14% and a net margin of 0.18%. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 earnings per share. On average, equities research analysts predict that Impinj, Inc. will post -0.47 EPS for the current 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.

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