Emerald Mutual Fund Advisers Trust Boosts Position in Impinj, Inc. (NASDAQ:PI)

Emerald Mutual Fund Advisers Trust lifted its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,017 shares of the company's stock after purchasing 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 filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Sylebra Capital LLC boosted its holdings in 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 acquiring an additional 274,764 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Impinj by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock worth $500,009,000 after acquiring an additional 104,861 shares in the last quarter. Capital International Investors boosted its holdings in Impinj by 45.0% in the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after acquiring an additional 473,721 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Impinj by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock worth $79,654,000 after acquiring an additional 3,899 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings 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 acquiring an additional 424,851 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have commented on PI shares. Evercore ISI boosted their target price on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Needham & Company LLC dropped their target price on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Cantor Fitzgerald reissued an "overweight" rating and issued a $133.00 target price on shares of Impinj in a report on Thursday, April 24th. Finally, Piper Sandler restated an "overweight" rating and issued a $100.00 price target on shares of Impinj in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $155.38.

Impinj Stock Down 3.5%

Shares of PI stock traded down $4.19 during mid-day trading on Friday, hitting $116.81. The company's stock had a trading volume of 377,925 shares, compared to its average volume of 598,460. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88. The business has a 50-day moving average price of $112.38 and a 200 day moving average price of $107.47. The company has a debt-to-equity ratio of 1.77, a quick ratio of 7.46 and a current ratio of 10.96. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -2,919.52 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.12. The company had revenue of $74.28 million during the quarter, compared to analysts' expectations of $71.73 million. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. Impinj's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. Research analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

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.