Impinj, Inc. $PI Shares Acquired by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC increased its stake in Impinj, Inc. by 57.6%, acquiring an additional 61,549 shares, bringing its total ownership to 168,457 shares worth approximately $15.3 million.
• Wall Street analysts have raised their target prices for Impinj, with estimates ranging from $140.00 to $180.00, indicating a generally positive outlook for the company's future performance.
• Insider trading revealed CEO Chris Ph.D. Diorio sold 5,000 shares at an average price of $180.64, reducing his ownership by 1.40% while still holding approximately 351,109 shares valued at about $63.4 million.

Fred Alger Management LLC boosted its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 57.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 168,457 shares of the company's stock after acquiring an additional 61,549 shares during the period. Fred Alger Management LLC owned about 0.58% of Impinj worth $15,279,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Impinj by 7.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,169 shares of the company's stock valued at $741,000 after buying an additional 535 shares during the last quarter. KBC Group NV raised its position in shares of Impinj by 35.0% in the first quarter. KBC Group NV now owns 1,227 shares of the company's stock valued at $111,000 after buying an additional 318 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Impinj by 68.7% in the first quarter. GAMMA Investing LLC now owns 722 shares of the company's stock valued at $65,000 after buying an additional 294 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Impinj by 46.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,083 shares of the company's stock valued at $280,000 after buying an additional 975 shares during the last quarter. Finally, CWM LLC raised its position in shares of Impinj by 3.3% in the first quarter. CWM LLC now owns 5,818 shares of the company's stock valued at $528,000 after buying an additional 185 shares during the last quarter.

Wall Street Analysts Forecast Growth

PI has been the subject of a number of recent research reports. Susquehanna raised their price objective on shares of Impinj from $130.00 to $140.00 and gave the stock a "positive" rating in a research report on Tuesday, July 22nd. Piper Sandler lifted their price target on shares of Impinj from $140.00 to $180.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Needham & Company LLC raised their price objective on shares of Impinj from $115.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Cantor Fitzgerald raised their price objective on shares of Impinj from $133.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $163.29.

Insider Activity at Impinj

In other news, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction on Monday, September 8th. The shares were sold at an average price of $192.30, for a total value of $961,500.00. Following the transaction, the chief executive officer directly owned 341,109 shares of the company's stock, valued at $65,595,260.70. The trade was a 1.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 15,000 shares of company stock valued at $2,803,650. Insiders own 12.40% of the company's stock.

Impinj Stock Down 2.5%

Impinj stock traded down $4.67 during trading on Friday, reaching $178.76. The stock had a trading volume of 526,336 shares, compared to its average volume of 628,044. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88. The business has a 50 day moving average price of $152.73 and a 200 day moving average price of $116.43. The company has a quick ratio of 8.44, a current ratio of 11.64 and a debt-to-equity ratio of 1.51. The stock has a market cap of $5.20 billion, a PE ratio of 17,893.89 and a beta of 1.81.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.08. The company had revenue of $97.89 million during the quarter, compared to the consensus estimate of $93.78 million. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The firm's quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Impinj has set its Q3 2025 guidance at 0.470-0.510 EPS. On average, analysts predict that Impinj, Inc. will post -0.47 EPS for the current year.

About Impinj

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.