Emerald Mutual Fund Advisers Trust Has $8.53 Million Holdings in Impinj, Inc. (NASDAQ:PI)

Emerald Mutual Fund Advisers Trust raised its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,017 shares of the company's stock after buying an additional 12,976 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.32% of Impinj worth $8,527,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PI. Capital International Investors lifted its holdings in shares of 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 buying an additional 473,721 shares during the last quarter. Janus Henderson Group PLC lifted its position in Impinj by 3,824.4% in the fourth 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 period. Norges Bank acquired a new stake in Impinj during the fourth quarter worth $40,100,000. Sylebra Capital LLC boosted its stake in Impinj by 8.6% during 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 in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Impinj in the 4th quarter valued at $30,697,000.

Impinj Trading Down 0.9%

Impinj stock traded down $1.05 during midday trading on Tuesday, hitting $111.65. 545,340 shares of the stock were exchanged, compared to its average volume of 598,327. The company has a fifty day simple moving average of $112.38 and a two-hundred day simple moving average of $107.19. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88. The stock has a market capitalization of $3.24 billion, a PE ratio of -2,790.55 and a beta of 1.64. The company has a quick ratio of 7.46, a current ratio of 10.96 and a debt-to-equity ratio of 1.77.

Impinj (NASDAQ:PI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.09 by $0.12. The firm had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. Impinj had a negative net margin of 0.26% and a positive return on equity of 6.45%. The business's quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the company posted $0.21 EPS. Equities research analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler restated an "overweight" rating and issued a $100.00 price objective on shares of Impinj in a research note on Thursday, June 12th. Needham & Company LLC dropped their price objective on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $133.00 target price on shares of Impinj in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $155.38.

Impinj Company 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.