Impinj, Inc. $PI Shares Acquired by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Impinj stake by 307.8% in the first quarter, bringing its holdings to 13,812 shares valued at approximately $1.42 million. Several other institutional investors also expanded their positions substantially.
• Analysts maintain a generally positive outlook, with Impinj receiving a consensus “Moderate Buy” rating and an average price target of $179.22. Recent changes included upgrades from Zacks Research and Barclays, while Needham trimmed its target to $168.
• Impinj exceeded quarterly expectations with EPS of $0.86 versus an $0.80 consensus and revenue of $108.37 million, up 10.7% year over year. However, insiders sold 240,657 shares worth roughly $32.9 million over the past 90 days.

Royal Bank of Canada lifted its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 307.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,812 shares of the company's stock after purchasing an additional 10,425 shares during the quarter. Royal Bank of Canada's holdings in Impinj were worth $1,420,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC lifted its holdings in shares of Impinj by 63.5% during the 4th quarter. Intech Investment Management LLC now owns 18,532 shares of the company's stock valued at $3,225,000 after acquiring an additional 7,194 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Impinj by 2,441.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 425,945 shares of the company's stock valued at $43,745,000 after purchasing an additional 409,182 shares in the last quarter. Fifth Third Bancorp raised its position in Impinj by 4,821.8% in the first quarter. Fifth Third Bancorp now owns 8,564 shares of the company's stock valued at $880,000 after purchasing an additional 8,390 shares during the period. Polar Asset Management Partners Inc. raised its position in Impinj by 25.6% in the first quarter. Polar Asset Management Partners Inc. now owns 136,656 shares of the company's stock valued at $14,035,000 after purchasing an additional 27,845 shares during the period. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Impinj by 36.4% during the first quarter. Stephens Investment Management Group LLC now owns 79,531 shares of the company's stock worth $8,168,000 after purchasing an additional 21,205 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently weighed in on PI. Zacks Research raised Impinj from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Barclays raised their target price on Impinj from $169.00 to $176.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Evercore set a $144.00 price target on Impinj in a research report on Thursday, April 30th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price target on shares of Impinj in a report on Thursday, July 30th. Finally, Needham & Company LLC lowered their price objective on shares of Impinj from $175.00 to $168.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $179.22.

Impinj Stock Performance

NASDAQ:PI opened at $164.98 on Thursday. The firm has a 50-day moving average of $145.97 and a two-hundred day moving average of $130.41. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.28 and a quick ratio of 2.29. The stock has a market cap of $5.04 billion, a P/E ratio of -179.33 and a beta of 1.94. Impinj, Inc. has a 1-year low of $87.36 and a 1-year high of $247.06.

Impinj (NASDAQ:PI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.06. The business had revenue of $108.37 million for the quarter, compared to analyst estimates of $104.60 million. Impinj had a positive return on equity of 5.23% and a negative net margin of 7.26%.The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 earnings per share. Impinj has set its Q3 2026 guidance at 0.590-0.630 EPS. On average, research analysts expect that Impinj, Inc. will post 0.37 earnings per share for the current fiscal year.

Insider Activity at Impinj

In other news, CFO Cary Baker sold 1,429 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $185.00, for a total transaction of $264,365.00. Following the completion of the sale, the chief financial officer owned 88,226 shares of the company's stock, valued at approximately $16,321,810. This trade represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sylebra Capital Llc sold 12,105 shares of Impinj stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $127.36, for a total transaction of $1,541,692.80. Following the completion of the sale, the director owned 782,943 shares of the company's stock, valued at approximately $99,715,620.48. This trade represents a 1.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 240,657 shares of company stock worth $32,875,156 over the last 90 days. 6.80% of the stock is owned by company insiders.

About Impinj

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj's platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj's product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).

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