Impinj, Inc. (NASDAQ:PI) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 15,200.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,485 shares of the company's stock after purchasing an additional 65,057 shares during the quarter. GAMMA Investing LLC owned about 0.23% of Impinj worth $59,390,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in Impinj in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in Impinj in the 4th quarter valued at $33,000. Jones Financial Companies Lllp increased its stake in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock valued at $38,000 after buying an additional 175 shares during the period. IFP Advisors Inc increased its stake in Impinj by 116.5% in the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock valued at $53,000 after buying an additional 198 shares during the period. Finally, Spire Wealth Management acquired a new position in Impinj in the 4th quarter valued at $87,000.

Impinj Stock Down 1.9%

Shares of Impinj stock traded down $2.19 on Friday, hitting $113.45. The company's stock had a trading volume of 460,692 shares, compared to its average volume of 597,124. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88. The firm has a fifty day moving average price of $94.83 and a 200-day moving average price of $118.33. The company has a market capitalization of $3.29 billion, a P/E ratio of 83.42 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.09 by $0.12. The business had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. As a group, analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on PI. The Goldman Sachs Group decreased their target price on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. Piper Sandler decreased their target price on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC decreased their target price on shares of Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Evercore ISI boosted 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. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $133.00 target price on shares of Impinj in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $155.38.

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.