Impinj, Inc. (NASDAQ:PI) Shares Bought by Shufro Rose & Co. LLC

Key Points

• Shufro Rose & Co. LLC increased its stake in Impinj, Inc. by 235.3%, holding 5,700 shares valued at $517,000 by the end of the first quarter.
• Impinj reported a Q1 EPS of $0.80, beating estimates of $0.72, although revenue fell 4.5% year-over-year to $97.89 million.
• Analysts have raised their price targets for Impinj, with a consensus target of $163.29 and ratings ranging from "sell" to "buy".

Shufro Rose & Co. LLC lifted its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 235.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,700 shares of the company's stock after purchasing an additional 4,000 shares during the period. Shufro Rose & Co. LLC's holdings in Impinj were worth $517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Impinj by 7.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,169 shares of the company's stock worth $741,000 after acquiring an additional 535 shares in the last quarter. KBC Group NV increased 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 worth $111,000 after acquiring an additional 318 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Impinj by 68.7% in the 1st quarter. GAMMA Investing LLC now owns 722 shares of the company's stock worth $65,000 after acquiring an additional 294 shares in the last quarter. Norges Bank bought a new position in shares of Impinj in the 4th quarter worth about $40,100,000. Finally, Bank of Montreal Can increased its stake in shares of Impinj by 10.3% in the 4th quarter. Bank of Montreal Can now owns 2,781 shares of the company's stock worth $404,000 after acquiring an additional 260 shares in the last quarter.

Impinj Stock Performance

Shares of NASDAQ:PI traded down $1.66 during trading on Friday, hitting $152.92. 1,027,589 shares of the stock traded hands, compared to its average volume of 616,159. The company has a quick ratio of 8.44, a current ratio of 11.64 and a debt-to-equity ratio of 1.51. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 15,307.31 and a beta of 1.74. The company has a fifty day moving average price of $115.52 and a two-hundred day moving average price of $104.71. 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 issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. The company had revenue of $97.89 million during the quarter, compared to analyst estimates of $93.78 million. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The firm's revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 EPS. As a group, equities analysts predict that Impinj, Inc. will post -0.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PI shares. Needham & Company LLC lifted their price target on shares of Impinj from $115.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday. Evercore ISI lifted their price target on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Piper Sandler raised their price objective on shares of Impinj from $140.00 to $180.00 and gave the stock an "overweight" rating in a report on Thursday. Cantor Fitzgerald raised their price objective on shares of Impinj from $133.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Susquehanna raised their price objective on shares of Impinj from $130.00 to $140.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $163.29.

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.