U.S. Capital Wealth Advisors LLC Acquires 8,895 Shares of Impinj, Inc. (NASDAQ:PI)

U.S. Capital Wealth Advisors LLC increased its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 261.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,295 shares of the company's stock after purchasing an additional 8,895 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Impinj were worth $1,115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in Impinj by 450.1% in the first quarter. Envestnet Asset Management Inc. now owns 32,736 shares of the company's stock valued at $2,969,000 after acquiring an additional 26,785 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Impinj by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 171,139 shares of the company's stock valued at $15,522,000 after acquiring an additional 5,475 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Impinj in the first quarter valued at about $336,000. Taylor Frigon Capital Management LLC boosted its stake in Impinj by 34.7% in the first quarter. Taylor Frigon Capital Management LLC now owns 25,283 shares of the company's stock valued at $2,293,000 after acquiring an additional 6,518 shares during the last quarter. Finally, KBC Group NV boosted its stake in Impinj by 35.0% in the first quarter. KBC Group NV now owns 1,227 shares of the company's stock valued at $111,000 after acquiring an additional 318 shares during the last quarter.

Impinj Price Performance

PI stock traded down $4.19 during midday trading on Friday, reaching $116.81. The company had a trading volume of 377,925 shares, compared to its average volume of 599,760. The company has a debt-to-equity ratio of 1.77, a current ratio of 10.96 and a quick ratio of 7.46. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88. The company has a market capitalization of $3.39 billion, a P/E ratio of -2,919.52 and a beta of 1.64. The firm has a 50-day moving average price of $112.38 and a 200-day moving average price of $107.47.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.12. Impinj had a negative net margin of 0.26% and a positive return on equity of 6.45%. The business 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 business posted $0.21 earnings per share. The company's revenue was down 3.3% on a year-over-year basis. On average, research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on PI shares. Piper Sandler reiterated an "overweight" rating and issued a $100.00 target price on shares of Impinj in a research note on Thursday, June 12th. Cantor Fitzgerald reissued an "overweight" rating and issued a $133.00 price target on shares of Impinj in a research report on Thursday, April 24th. Evercore ISI boosted 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. Finally, Needham & Company LLC lowered their price target on shares of Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. One equities research 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, Impinj has an average rating of "Moderate Buy" and an average target price of $155.38.

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.