SG Americas Securities LLC Purchases 18,965 Shares of Impinj, Inc. (NASDAQ:PI)

SG Americas Securities LLC grew its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 442.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,255 shares of the company's stock after purchasing an additional 18,965 shares during the quarter. SG Americas Securities LLC owned about 0.08% of Impinj worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System raised its holdings in Impinj by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock valued at $1,612,000 after buying an additional 100 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Impinj by 248.8% in the 4th quarter. Van ECK Associates Corp now owns 4,928 shares of the company's stock worth $716,000 after purchasing an additional 3,515 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Impinj by 85.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company's stock worth $174,000 after purchasing an additional 542 shares during the period. New York State Teachers Retirement System grew its holdings in Impinj by 43.1% during the fourth quarter. New York State Teachers Retirement System now owns 7,441 shares of the company's stock valued at $1,081,000 after purchasing an additional 2,241 shares during the last quarter. Finally, Peregrine Investment Management Inc. bought a new position in shares of Impinj in the fourth quarter valued at approximately $3,777,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on PI. Piper Sandler reiterated an "overweight" rating and issued a $100.00 target price on shares of Impinj in a research note on Thursday, June 12th. Cantor Fitzgerald restated an "overweight" rating and set a $133.00 price target on shares of Impinj in a report on Thursday, April 24th. Needham & Company LLC dropped their price objective on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Evercore ISI boosted their price objective on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Impinj presently has a consensus rating of "Moderate Buy" and an average target price of $155.38.

Impinj Stock Performance

Shares of NASDAQ PI traded up $0.28 during trading hours on Wednesday, reaching $104.26. The stock had a trading volume of 120,689 shares, compared to its average volume of 588,724. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -2,605.95 and a beta of 1.67. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88. The business's fifty day moving average is $100.48 and its two-hundred day moving average is $113.41. The company has a debt-to-equity ratio of 1.77, a current ratio of 10.96 and a quick ratio of 7.46.

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 the consensus estimate of $0.09 by $0.12. Impinj had a negative net margin of 0.26% and a positive return on equity of 6.45%. The business had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. During the same period in the previous year, the business earned $0.21 EPS. The firm's revenue was down 3.3% on a year-over-year basis. As a group, research analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

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.