Impinj, Inc. (NASDAQ:PI) Shares Bought by Peregrine Investment Management Inc.

Peregrine Investment Management Inc. boosted its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 126.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,890 shares of the company's stock after purchasing an additional 32,890 shares during the period. Impinj comprises 4.0% of Peregrine Investment Management Inc.'s investment portfolio, making the stock its 14th biggest position. Peregrine Investment Management Inc. owned approximately 0.20% of Impinj worth $5,341,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new position in Impinj during the fourth quarter worth $29,000. Jones Financial Companies Lllp increased its position in Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after buying an additional 175 shares in the last quarter. GAMMA Investing LLC increased its position in Impinj by 68.7% during the first quarter. GAMMA Investing LLC now owns 722 shares of the company's stock worth $65,000 after buying an additional 294 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Impinj during the fourth quarter worth $156,000. Finally, KBC Group NV increased its position in Impinj by 35.0% during the first quarter. KBC Group NV now owns 1,227 shares of the company's stock worth $111,000 after buying an additional 318 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. 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. Needham & Company LLC dropped their price target on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Evercore ISI raised their price objective on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $155.38.

Impinj Trading Down 3.5%

Shares of PI stock traded down $4.19 during mid-day trading on Friday, hitting $116.81. 377,925 shares of the company's stock were exchanged, compared to its average volume of 599,760. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88. The stock has a 50-day simple moving average of $112.38 and a two-hundred day simple moving average of $107.47. 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 $3.39 billion, a price-to-earnings ratio of -2,919.52 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $74.28 million for the quarter, compared to analysts' expectations of $71.73 million. During the same quarter last year, the firm earned $0.21 earnings per share. The firm's revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts expect that Impinj, Inc. will post -0.47 EPS for the current fiscal 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.