Emerald Advisers LLC Has $13.80 Million Stake in Impinj, Inc. (NASDAQ:PI)

Emerald Advisers LLC lifted its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 20.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 152,149 shares of the company's stock after acquiring an additional 25,742 shares during the quarter. Emerald Advisers LLC owned approximately 0.52% of Impinj worth $13,800,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its position in Impinj by 7.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,169 shares of the company's stock worth $741,000 after buying an additional 535 shares during the last quarter. KBC Group NV boosted its stake in Impinj by 35.0% in the 1st quarter. KBC Group NV now owns 1,227 shares of the company's stock valued at $111,000 after purchasing an additional 318 shares during the period. GAMMA Investing LLC grew its holdings in Impinj by 68.7% in the 1st quarter. GAMMA Investing LLC now owns 722 shares of the company's stock valued at $65,000 after buying an additional 294 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Impinj by 7.0% in the 4th quarter. Victory Capital Management Inc. now owns 20,825 shares of the company's stock valued at $3,025,000 after buying an additional 1,363 shares in the last quarter. Finally, Norges Bank bought a new position in Impinj during the 4th quarter worth $40,100,000.

Wall Street Analyst Weigh In

PI has been the topic of a number of recent research reports. Evercore ISI raised their price target on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Needham & Company LLC lowered their target price on shares of Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Piper Sandler reiterated an "overweight" rating and issued a $100.00 price target on shares of Impinj in a research note on Thursday, June 12th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $133.00 price target on shares of Impinj in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $155.38.

Impinj Price Performance

NASDAQ PI traded down $4.31 on Monday, hitting $112.51. 59,585 shares of the company's stock were exchanged, compared to its average volume of 597,635. The stock has a 50-day moving average of $112.38 and a 200-day moving average of $107.47. The company has a current ratio of 10.96, a quick ratio of 7.46 and a debt-to-equity ratio of 1.77. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -2,803.05 and a beta of 1.64.

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. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. The firm had revenue of $74.28 million during the quarter, compared to analysts' expectations of $71.73 million. During the same period in the prior year, the company earned $0.21 earnings per share. The company's quarterly revenue was down 3.3% on a year-over-year basis. Analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current 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.