Emerald Advisers LLC Purchases 25,742 Shares of Impinj, Inc. (NASDAQ:PI)

Emerald Advisers LLC increased its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 20.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,149 shares of the company's stock after buying an additional 25,742 shares during the period. Emerald Advisers LLC owned 0.52% of Impinj worth $13,800,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PI. Capital International Investors grew its holdings in shares of Impinj by 45.0% during the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company's stock valued at $221,897,000 after buying an additional 473,721 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Impinj by 3,824.4% during the fourth quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock valued at $63,310,000 after buying an additional 424,851 shares during the last quarter. Norges Bank acquired a new position in shares of Impinj during the fourth quarter valued at about $40,100,000. Sylebra Capital LLC grew its holdings in shares of Impinj by 8.6% during the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock valued at $504,360,000 after buying an additional 274,764 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Impinj during the fourth quarter valued at about $30,697,000.

Impinj Stock Performance

PI traded up $0.72 during midday trading on Wednesday, reaching $112.37. The company had a trading volume of 394,604 shares, compared to its average volume of 598,407. The company has a debt-to-equity ratio of 1.77, a quick ratio of 7.46 and a current ratio of 10.96. The stock has a market cap of $3.26 billion, a PE ratio of -2,808.55 and a beta of 1.64. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88. The business has a 50-day moving average price of $112.97 and a two-hundred day moving average price of $106.97.

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, beating analysts' consensus estimates of $0.09 by $0.12. The firm had revenue of $74.28 million for the quarter, compared to analysts' expectations of $71.73 million. Impinj had a negative net margin of 0.26% and a positive return on equity of 6.45%. The company's quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. On average, sell-side analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.