Impinj, Inc. (NASDAQ:PI) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 38.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,099 shares of the company's stock after purchasing an additional 67,908 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.86% of Impinj worth $21,578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in 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. purchased a new stake in shares of Impinj in the fourth quarter valued at $33,000. Jones Financial Companies Lllp increased its stake in 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 last quarter. IFP Advisors Inc lifted its position in Impinj by 116.5% during the fourth quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after buying an additional 198 shares during the period. Finally, GAMMA Investing LLC lifted 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 buying an additional 294 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PI. Cantor Fitzgerald restated an "overweight" rating and set a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th. Piper Sandler restated an "overweight" rating and set a $100.00 price target on shares of Impinj in a research note on Thursday, June 12th. Evercore ISI lifted their price objective on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC decreased their target price on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $155.38.

Impinj Stock Performance

PI traded up $2.44 during trading hours on Thursday, hitting $115.88. 204,570 shares of the stock were exchanged, compared to its average volume of 595,002. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -2,896.15 and a beta of 1.64. The stock has a 50-day simple moving average of $108.92 and a 200-day simple moving average of $109.18. 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, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data 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. Impinj had a negative net margin of 0.26% and a positive return on equity of 6.45%. The business had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. Analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current 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.