Two Sigma Advisers LP Reduces Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Two Sigma Advisers LP reduced its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 18.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,400 shares of the company's stock after selling 31,800 shares during the quarter. Two Sigma Advisers LP owned about 0.48% of Impinj worth $19,813,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Asset Management One Co. Ltd. lifted its holdings in shares of Impinj by 85.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company's stock worth $174,000 after purchasing an additional 542 shares during the period. TimesSquare Capital Management LLC lifted its holdings in shares of Impinj by 92.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company's stock worth $20,454,000 after purchasing an additional 67,510 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Impinj by 7.0% during the fourth quarter. Victory Capital Management Inc. now owns 20,825 shares of the company's stock worth $3,025,000 after purchasing an additional 1,363 shares during the period. KBC Group NV lifted its holdings in shares of Impinj by 33.5% during the fourth quarter. KBC Group NV now owns 909 shares of the company's stock worth $132,000 after purchasing an additional 228 shares during the period. Finally, Norges Bank acquired a new stake in shares of Impinj during the fourth quarter worth $40,100,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PI shares. Needham & Company LLC decreased their price target on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Piper Sandler cut their price objective on Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group cut their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Evercore ISI increased their price objective on 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 issued a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Impinj presently has a consensus rating of "Moderate Buy" and an average target price of $155.38.

Impinj Stock Performance

NASDAQ:PI traded up $6.76 during trading hours on Tuesday, hitting $118.76. The company's stock had a trading volume of 128,896 shares, compared to its average volume of 594,570. The business's 50-day moving average is $90.79 and its two-hundred day moving average is $121.27. The company has a market capitalization of $3.44 billion, a PE ratio of 87.32 and a beta of 1.64. 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 released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.12. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm had revenue of $74.28 million during the quarter, compared to analysts' expectations of $71.73 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. Impinj's revenue was down 3.3% compared to the same quarter last year. As a group, analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

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.