Generali Investments Towarzystwo Funduszy Inwestycyjnych Takes $952,000 Position in Impinj, Inc. (NASDAQ:PI)

Key Points

• Generali Investments acquired a new position in Impinj, Inc. worth approximately $952,000 during the first quarter by purchasing 10,500 shares of the stock.
• Impinj reported a net revenue of $97.89 million for its last quarter, exceeding analysts' expectations while showing a 4.5% decline from the same period last year.
• Analyst ratings for Impinj are cautiously optimistic, with six analysts giving it a 'buy' rating and a consensus price target of $163.29, ranging from $117.00 to $180.00 across various firms.

Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,500 shares of the company's stock, valued at approximately $952,000.

A number of other institutional investors have also recently made changes to their positions in PI. Sylebra Capital LLC raised its holdings in shares of Impinj by 8.6% in 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. Capital International Investors increased its position in Impinj by 45.0% during 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 raised its holdings in shares of Impinj by 0.7% in the 4th 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 period. Janus Henderson Group PLC lifted its position in shares of Impinj by 3,824.4% during the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock worth $63,310,000 after purchasing an additional 424,851 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Impinj by 3.4% during the fourth quarter. Ameriprise Financial Inc. now owns 407,391 shares of the company's stock worth $59,178,000 after purchasing an additional 13,264 shares during the last quarter.

Impinj Stock Down 1.7%

NASDAQ PI traded down $2.65 on Thursday, hitting $157.32. 132,439 shares of the company were exchanged, compared to its average volume of 646,193. The company has a current ratio of 11.64, a quick ratio of 8.44 and a debt-to-equity ratio of 1.51. The stock has a fifty day moving average of $118.39 and a 200-day moving average of $105.72. The company has a market cap of $4.58 billion, a PE ratio of 15,752.55 and a beta of 1.74. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PI shares. Susquehanna lifted their target price on shares of Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Evercore ISI increased their target price 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. Piper Sandler upped their target price on shares of Impinj from $140.00 to $180.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Needham & Company LLC lifted 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, Cantor Fitzgerald boosted their price target on shares of Impinj from $133.00 to $158.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Impinj presently has an average rating of "Moderate Buy" and an average target price of $163.29.

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.