Twinbeech Capital LP Acquires Shares of 18,537 Impinj, Inc. (NASDAQ:PI)

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

Other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in shares of Impinj in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new position in shares of Impinj in the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp raised its stake 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 last quarter. IFP Advisors Inc raised its stake 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 last quarter. Finally, Spire Wealth Management bought a new position in shares of Impinj in the fourth quarter valued at approximately $87,000.

Insiders Place Their Bets

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the transaction, the chief executive officer now owns 354,076 shares of the company's stock, valued at $34,975,627.28. The trade was a 2.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Hussein Mecklai sold 3,739 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the transaction, the chief operating officer now directly owns 70,347 shares of the company's stock, valued at $6,950,987.07. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,857 shares of company stock valued at $1,665,290. Company insiders own 12.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PI. Needham & Company LLC cut their target price on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Evercore ISI boosted their price objective on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Finally, Susquehanna dropped their price objective on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Impinj has a consensus rating of "Moderate Buy" and an average target price of $155.38.

Impinj Stock Performance

PI opened at $123.33 on Wednesday. The company has a fifty day moving average price of $89.03 and a two-hundred day moving average price of $124.17. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88. The firm has a market capitalization of $3.57 billion, a PE ratio of 90.68 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, topping 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 firm had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. During the same quarter in the previous year, the business earned $0.21 EPS. The business's quarterly revenue was down 3.3% compared to the same quarter last year. Equities analysts forecast 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.

Want to see what other hedge funds are holding PI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Impinj, Inc. (NASDAQ:PI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.