Peregrine Investment Management Inc. Acquires 32,890 Shares of Impinj, Inc. (NASDAQ:PI)

Peregrine Investment Management Inc. increased its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 126.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,890 shares of the company's stock after acquiring an additional 32,890 shares during the period. Impinj comprises approximately 4.0% of Peregrine Investment Management Inc.'s investment portfolio, making the stock its 14th largest holding. Peregrine Investment Management Inc. owned 0.20% of Impinj worth $5,341,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CWM LLC raised its holdings in Impinj by 3.3% during the first quarter. CWM LLC now owns 5,818 shares of the company's stock worth $528,000 after acquiring an additional 185 shares in the last quarter. Emerald Advisers LLC raised its holdings in Impinj by 20.4% during the first quarter. Emerald Advisers LLC now owns 152,149 shares of the company's stock worth $13,800,000 after acquiring an additional 25,742 shares in the last quarter. Arizona State Retirement System raised its holdings in Impinj by 5.0% during the first quarter. Arizona State Retirement System now owns 7,289 shares of the company's stock worth $661,000 after acquiring an additional 344 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its position in Impinj by 16.0% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 94,017 shares of the company's stock worth $8,527,000 after buying an additional 12,976 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its position in Impinj by 261.6% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 12,295 shares of the company's stock worth $1,115,000 after buying an additional 8,895 shares during the last quarter.

Wall Street Analysts Forecast Growth

PI has been the topic of a number of recent analyst reports. Needham & Company LLC lowered their price target on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Piper Sandler reissued an "overweight" rating and set a $100.00 price target on shares of Impinj in a research report on Thursday, June 12th. Evercore ISI boosted their price target 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 reissued an "overweight" rating and set a $133.00 price target on shares of Impinj in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $155.38.

Impinj Stock Performance

Shares of Impinj stock traded up $0.72 on Wednesday, hitting $112.37. The stock had a trading volume of 394,604 shares, compared to its average volume of 599,052. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88. The business's 50 day moving average is $113.27 and its two-hundred day moving average is $107.01. The company has a quick ratio of 7.46, a current ratio of 10.96 and a debt-to-equity ratio of 1.77. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -2,808.55 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.09 by $0.12. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. The company had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. Analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

About Impinj

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.