Two Sigma Investments LP Has $20.45 Million Holdings in Impinj, Inc. (NASDAQ:PI)

Two Sigma Investments LP decreased its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 14.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,766 shares of the company's stock after selling 24,294 shares during the quarter. Two Sigma Investments LP owned approximately 0.50% of Impinj worth $20,448,000 at the end of the most recent quarter.

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

Impinj Trading Down 4.7%

Shares of NASDAQ PI opened at $117.52 on Thursday. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88. The firm's 50-day moving average is $89.57 and its 200-day moving average is $124.13. The firm has a market capitalization of $3.41 billion, a PE ratio of 86.41 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data 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 net margin of 11.15% and a return on equity of 7.11%. 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 prior year, the business posted $0.21 earnings per share. Impinj's revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Chris Ph.D. Diorio sold 8,334 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 354,076 shares in the company, valued at $34,975,627.28. This trade represents a 2.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Hussein Mecklai sold 3,739 shares of the business's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 70,347 shares of the company's stock, valued at approximately $6,950,987.07. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,857 shares of company stock valued at $1,665,290 in the last 90 days. 12.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on PI shares. Susquehanna decreased their target price on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a report on Wednesday, January 22nd. 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. Needham & Company LLC dropped 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. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Finally, Piper Sandler dropped their price objective on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Impinj currently has an average rating of "Moderate Buy" and a consensus target price of $155.38.

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.

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