Twinbeech Capital LP Makes New $2.69 Million Investment in Impinj, Inc. (NASDAQ:PI)

Twinbeech Capital LP bought a new position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,537 shares of the company's stock, valued at approximately $2,693,000. Twinbeech Capital LP owned approximately 0.07% of Impinj as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in PI. Hillsdale Investment Management Inc. increased its position in Impinj by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company's stock valued at $3,586,000 after acquiring an additional 95 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock valued at $1,612,000 after acquiring an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Impinj by 6.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock worth $238,000 after purchasing an additional 106 shares in the last quarter. Cynosure Group LLC lifted its position in Impinj by 7.8% in the fourth quarter. Cynosure Group LLC now owns 1,953 shares of the company's stock valued at $284,000 after purchasing an additional 142 shares during the period. Finally, Xponance Inc. boosted its holdings in Impinj by 10.5% in the 4th quarter. Xponance Inc. now owns 1,660 shares of the company's stock valued at $241,000 after purchasing an additional 158 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PI. Piper Sandler cut their price target on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. 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 report on Thursday, April 24th. Evercore ISI increased their price target on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Cantor Fitzgerald restated an "overweight" rating and set a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group lowered their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Impinj presently has an average rating of "Moderate Buy" and a consensus price target of $155.38.

Impinj Stock Down 2.8%

Shares of PI stock traded down $3.21 during mid-day trading on Monday, reaching $112.00. The company's stock had a trading volume of 415,353 shares, compared to its average volume of 596,302. The firm has a market capitalization of $3.25 billion, a PE ratio of 82.35 and a beta of 1.64. The company's 50 day simple moving average is $90.43 and its 200-day simple moving average is $121.91. Impinj, Inc. has a 12-month low of $60.85 and a 12-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 EPS for the quarter, beating the consensus estimate of $0.09 by $0.12. The company had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm's revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. As a group, research analysts anticipate 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.