Wealth Enhancement Advisory Services LLC Acquires 3,606 Shares of Impinj, Inc. (NASDAQ:PI)

Wealth Enhancement Advisory Services LLC raised its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 31.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,211 shares of the company's stock after purchasing an additional 3,606 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.05% of Impinj worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PI. Capital International Investors raised its stake in shares of Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after buying an additional 473,721 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Impinj by 3,824.4% in the fourth quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock worth $63,310,000 after acquiring an additional 424,851 shares in the last quarter. Norges Bank purchased a new position in shares of Impinj in the fourth quarter worth approximately $40,100,000. Sylebra Capital LLC raised its stake in Impinj by 8.6% during the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock valued at $504,360,000 after purchasing an additional 274,764 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Impinj during the fourth quarter valued at $30,697,000.

Analysts Set New Price Targets

PI has been the topic of several research analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $100.00 target price on shares of Impinj in a research note on Thursday, June 12th. Needham & Company LLC lowered their price objective 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. Evercore ISI upped their price objective on shares of 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 reissued an "overweight" rating and set a $133.00 target price on shares of Impinj in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Impinj presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.38.

Impinj Stock Up 0.8%

Shares of PI stock traded up $0.94 on Tuesday, hitting $112.01. The company's stock had a trading volume of 376,152 shares, compared to its average volume of 592,591. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of -2,799.55 and a beta of 1.67. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88. The firm's fifty day moving average price is $107.44 and its 200-day moving average price is $109.13. 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 (NASDAQ:PI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.12. The company had revenue of $74.28 million during the quarter, compared to analysts' expectations of $71.73 million. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Research analysts anticipate 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.