Tidal Investments LLC Takes $12.92 Million Position in Impinj, Inc. (NASDAQ:PI)

Tidal Investments LLC acquired a new position in Impinj, Inc. (NASDAQ:PI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 88,948 shares of the company's stock, valued at approximately $12,921,000. Tidal Investments LLC owned about 0.31% of Impinj as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PI. Sherbrooke Park Advisers LLC boosted its holdings in shares of Impinj by 75.9% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 2,672 shares of the company's stock valued at $388,000 after acquiring an additional 1,153 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Impinj during the 4th quarter valued at about $156,000. Point72 Asset Management L.P. acquired a new position in shares of Impinj during the 4th quarter worth approximately $30,697,000. Point72 Hong Kong Ltd acquired a new stake in shares of Impinj during the fourth quarter valued at $1,128,000. Finally, ProShare Advisors LLC grew its holdings in shares of Impinj by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 6,910 shares of the company's stock worth $1,004,000 after buying an additional 2,129 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. Piper Sandler dropped their price target on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC cut their target price on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Evercore ISI upped 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, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $133.00 price target on shares of Impinj in a 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 issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $155.38.

Impinj Price Performance

Shares of Impinj stock traded down $2.56 during midday trading on Friday, hitting $112.66. 275,521 shares of the company were exchanged, compared to its average volume of 592,988. The firm has a market cap of $3.27 billion, a P/E ratio of 82.80 and a beta of 1.64. The firm has a 50 day simple moving average of $90.02 and a 200-day simple moving average of $123.59. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88.

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