Impinj, Inc. (NASDAQ:PI) Shares Bought by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust grew its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 16.0% in the first quarter, according to its most recent disclosure 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 period. Emerald Mutual Fund Advisers Trust owned 0.32% of Impinj worth $8,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new position in Impinj during the fourth quarter worth approximately $29,000. Jones Financial Companies Lllp grew its holdings in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock valued at $38,000 after purchasing an additional 175 shares during the period. GAMMA Investing LLC increased its position in Impinj by 68.7% during the first quarter. GAMMA Investing LLC now owns 722 shares of the company's stock worth $65,000 after purchasing an additional 294 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Impinj in the 4th quarter valued at about $156,000. Finally, KBC Group NV grew its stake in shares of Impinj by 35.0% in the 1st quarter. KBC Group NV now owns 1,227 shares of the company's stock valued at $111,000 after buying an additional 318 shares during the period.

Wall Street Analyst Weigh In

PI has been the subject of several analyst reports. Needham & Company LLC dropped their price target 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. Piper Sandler restated an "overweight" rating and issued a $100.00 target price on shares of Impinj in a research report on Thursday, June 12th. Evercore ISI lifted their target price on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $133.00 target price on shares of Impinj in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.38.

Impinj Stock Performance

Shares of Impinj stock opened at $116.81 on Friday. The business has a 50-day moving average of $112.38 and a 200 day moving average of $107.75. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -2,919.52 and a beta of 1.64. The company has a debt-to-equity ratio of 1.77, a current ratio of 10.96 and a quick ratio of 7.46.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.12. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. The company had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. During the same quarter in the prior year, the business earned $0.21 EPS. Impinj's revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

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.

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