Universal Beteiligungs und Servicegesellschaft mbH Sells 21,338 Shares of Impinj, Inc. (NASDAQ:PI)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH significantly reduced its stake in Impinj, Inc. by 90.3%, selling 21,338 shares in the first quarter and holding only 2,285 shares worth approximately $207,000.
• Analysts have a consensus rating of "Moderate Buy" for Impinj's stock, with a price target average of $163.29, with several analysts recently raising their target prices.
• Impinj reported earnings of $0.80 per share for the recent quarter, exceeding expectations, despite a 4.5% decline in revenue year-over-year.

Universal Beteiligungs und Servicegesellschaft mbH trimmed its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 90.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,285 shares of the company's stock after selling 21,338 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Impinj were worth $207,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in Impinj during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. increased its stake in shares of Impinj by 75.3% in the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the company's stock valued at $36,000 after buying an additional 171 shares during the period. GAMMA Investing LLC lifted 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 valued at $65,000 after purchasing an additional 294 shares during the period. KBC Group NV boosted its position in shares of Impinj by 35.0% during the 1st quarter. KBC Group NV now owns 1,227 shares of the company's stock worth $111,000 after purchasing an additional 318 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Impinj during the fourth quarter valued at about $156,000.

Impinj Stock Down 1.4%

Shares of PI stock traded down $2.20 on Thursday, reaching $157.77. 467,190 shares of the company's stock traded hands, compared to its average volume of 648,543. The company has a market capitalization of $4.59 billion, a P/E ratio of 15,792.79 and a beta of 1.74. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88. The company has a debt-to-equity ratio of 1.51, a quick ratio of 8.44 and a current ratio of 11.64. The business's 50 day moving average price is $118.39 and its two-hundred day moving average price is $105.72.

Impinj (NASDAQ:PI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.08. The business had revenue of $97.89 million for 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 EPS. On average, equities analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Needham & Company LLC lifted their price objective on Impinj from $115.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Cantor Fitzgerald raised their price target on Impinj from $133.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Piper Sandler upped their price objective on Impinj from $140.00 to $180.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Evercore ISI increased 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, Susquehanna boosted their target price on Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the 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 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.