Squarepoint Ops LLC Has $45.14 Million Stake in Impinj, Inc. (NASDAQ:PI)

Squarepoint Ops LLC increased its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 32.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 310,743 shares of the company's stock after acquiring an additional 76,886 shares during the quarter. Squarepoint Ops LLC owned about 1.10% of Impinj worth $45,139,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PI. Asset Management One Co. Ltd. increased its holdings in shares of Impinj by 85.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company's stock worth $174,000 after purchasing an additional 542 shares during the period. TimesSquare Capital Management LLC increased its holdings in shares of Impinj by 92.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company's stock worth $20,454,000 after purchasing an additional 67,510 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Impinj by 7.0% during the 4th quarter. Victory Capital Management Inc. now owns 20,825 shares of the company's stock worth $3,025,000 after purchasing an additional 1,363 shares during the period. KBC Group NV increased its holdings in shares of Impinj by 33.5% during the 4th quarter. KBC Group NV now owns 909 shares of the company's stock worth $132,000 after purchasing an additional 228 shares during the period. Finally, Norges Bank bought a new position in shares of Impinj during the 4th quarter worth about $40,100,000.

Wall Street Analyst Weigh In

PI has been the topic of several research reports. Needham & Company LLC dropped their price objective on shares of Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Evercore ISI boosted their price objective on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. The Goldman Sachs Group dropped their price objective on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald restated an "overweight" rating and set a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th. Finally, Piper Sandler lowered their target price on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Impinj presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.38.

Impinj Trading Down 2.8%

NASDAQ PI traded down $3.21 on Friday, reaching $112.00. The company's stock had a trading volume of 415,353 shares, compared to its average volume of 596,302. The firm has a market cap of $3.25 billion, a PE ratio of 82.35 and a beta of 1.64. The business has a 50-day moving average price of $90.43 and a 200 day moving average price of $122.48. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last posted 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 business had revenue of $74.28 million for the quarter, compared to analysts' expectations of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

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.