Impinj, Inc. (NASDAQ:PI) Shares Sold by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC reduced its position in Impinj, Inc. by 80.5%, selling 1,602 shares and now holding only 388 shares valued at approximately $35,000.
• Impinj reported earnings of $0.80 per share for the last quarter, surpassing analysts' estimates and generating revenue of $97.89 million, despite a year-over-year decline of 4.5%.
• Several analysts have raised their price targets for Impinj, with a consensus target set at $163.29, reflecting a "Moderate Buy" rating for the stock.

Headlands Technologies LLC cut its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 80.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 388 shares of the company's stock after selling 1,602 shares during the quarter. Headlands Technologies LLC's holdings in Impinj were worth $35,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PI. Capital International Investors boosted its stake in Impinj by 45.0% in the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company's stock valued at $221,897,000 after acquiring an additional 473,721 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Impinj by 3,824.4% in the fourth quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock valued at $63,310,000 after acquiring an additional 424,851 shares in the last quarter. Sylebra Capital LLC boosted its stake in Impinj by 8.6% in the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock valued at $504,360,000 after acquiring an additional 274,764 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Impinj in the fourth quarter valued at approximately $30,697,000. Finally, Raymond James Financial Inc. acquired a new stake in Impinj in the fourth quarter valued at approximately $27,699,000.

Impinj Stock Performance

NASDAQ:PI traded down $5.60 during mid-day trading on Friday, hitting $161.77. The company's stock had a trading volume of 371,302 shares, compared to its average volume of 636,660. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88. The company has a debt-to-equity ratio of 1.51, a current ratio of 11.64 and a quick ratio of 8.44. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 16,193.19 and a beta of 1.74. The business's fifty day moving average is $124.65 and its two-hundred day moving average is $106.95.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $97.89 million during the quarter, compared to analysts' expectations of $93.78 million. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. Analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PI. Evercore ISI lifted their price objective on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Piper Sandler lifted their price target on Impinj from $140.00 to $180.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Susquehanna lifted their price target on Impinj from $130.00 to $140.00 and gave the stock a "positive" rating in a research report on Tuesday, July 22nd. Cantor Fitzgerald lifted their price target on Impinj from $133.00 to $158.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Needham & Company LLC lifted their price target on Impinj from $115.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Impinj presently has an average rating of "Moderate Buy" and an average price target 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.