Impinj, Inc. $PI Shares Acquired by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Impinj, Inc. by 28.5%, now holding approximately $6.65 million worth of shares.
• Several institutional investors significantly raised their positions in Impinj, with Capital International Investors and Janus Henderson Group PLC increasing their stakes by 45.0% and 3,824.4%, respectively.
• Analysts have issued positive ratings for Impinj, increasing target prices across multiple firms, with an average target price now at $163.29 and the stock carrying a consensus rating of "Moderate Buy".

Public Sector Pension Investment Board grew its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 28.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,300 shares of the company's stock after purchasing an additional 16,256 shares during the period. Public Sector Pension Investment Board owned about 0.25% of Impinj worth $6,648,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PI. Capital International Investors lifted its position in shares of Impinj by 45.0% during the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock valued at $221,897,000 after buying an additional 473,721 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Impinj by 3,824.4% during the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock valued at $63,310,000 after buying an additional 424,851 shares in the last quarter. Sylebra Capital LLC lifted its position in shares of Impinj by 8.6% during the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock valued at $504,360,000 after buying an additional 274,764 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Impinj during the 4th quarter valued at approximately $30,697,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Impinj during the 4th quarter valued at approximately $27,699,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PI. Piper Sandler increased their target price on Impinj from $140.00 to $180.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Susquehanna increased 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. Cantor Fitzgerald increased their price objective on Impinj from $133.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Evercore ISI increased their price objective on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC increased their price objective on Impinj from $115.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $163.29.

Impinj Price Performance

NASDAQ PI traded up $3.97 during mid-day trading on Monday, hitting $165.74. The stock had a trading volume of 268,502 shares, compared to its average volume of 642,678. The firm's 50 day moving average is $125.63 and its 200 day moving average is $106.90. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88. The company has a debt-to-equity ratio of 1.51, a current ratio of 11.64 and a quick ratio of 8.44. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 16,590.59 and a beta of 1.74.

Impinj (NASDAQ:PI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.08. Impinj had a return on equity of 8.14% and a net margin of 0.18%. The business had revenue of $97.89 million during the quarter, compared to the consensus estimate of $93.78 million. During the same period last year, the company earned $0.83 EPS. The company's revenue for the quarter was down 4.5% on a year-over-year basis. Equities research analysts forecast that Impinj, Inc. will post -0.47 earnings per share 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.