Tidal Investments LLC Purchases New Stake in Impinj, Inc. (NASDAQ:PI)

Tidal Investments LLC bought a new position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 88,948 shares of the company's stock, valued at approximately $12,921,000. Tidal Investments LLC owned 0.31% of Impinj as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PI. Canada Pension Plan Investment Board bought a new stake in shares of Impinj in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Impinj in the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp boosted its position in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock valued at $38,000 after acquiring an additional 175 shares during the period. IFP Advisors Inc boosted its position in shares of Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company's stock valued at $53,000 after acquiring an additional 198 shares during the period. Finally, Spire Wealth Management bought a new stake in shares of Impinj in the fourth quarter valued at approximately $87,000.

Impinj Price Performance

Shares of NASDAQ PI traded down $3.21 during trading hours on Friday, reaching $112.00. The stock had a trading volume of 415,353 shares, compared to its average volume of 596,302. The business's fifty day moving average is $90.43 and its two-hundred day moving average is $122.48. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 82.35 and a beta of 1.64. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.12. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. During the same period in the prior year, the company posted $0.21 earnings per share. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. Sell-side analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PI. Needham & Company LLC reduced their price objective 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 increased their price objective on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Cantor Fitzgerald reissued an "overweight" rating and issued a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. The Goldman Sachs Group reduced their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Finally, Piper Sandler cut their target price on Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Impinj has an average rating of "Moderate Buy" and an average price target of $155.38.

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.