XTX Topco Ltd Acquires Shares of 11,388 Impinj, Inc. (NASDAQ:PI)

Key Points

• XTX Topco Ltd has made a $1.03 million investment by acquiring 11,388 shares in Impinj, Inc. during the first quarter.
• Impinj recently reported earnings per share of $0.80 for the last quarter, exceeding analyst expectations of $0.72, although revenue declined 4.5% year-over-year.
• Equities analysts have increased their price targets for Impinj, with Needham & Company raising it from $115.00 to $165.00 and maintaining a "buy" rating.

XTX Topco Ltd bought a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 11,388 shares of the company's stock, valued at approximately $1,033,000.

A number of other hedge funds also recently made changes to their positions in the business. Sylebra Capital LLC increased its position in Impinj by 8.6% in the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock worth $504,360,000 after purchasing an additional 274,764 shares during the period. Capital International Investors increased its position in shares of Impinj by 45.0% during the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after purchasing an additional 473,721 shares during the last quarter. Geode Capital Management LLC raised its position in Impinj by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock worth $79,654,000 after acquiring an additional 3,899 shares in the last quarter. Janus Henderson Group PLC increased its holdings 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 valued at $63,310,000 after purchasing an additional 424,851 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Impinj by 3.4% in the 4th quarter. Ameriprise Financial Inc. now owns 407,391 shares of the company's stock valued at $59,178,000 after buying an additional 13,264 shares during the period.

Wall Street Analysts Forecast Growth

PI has been the subject of several research analyst reports. Piper Sandler lifted their price objective on shares of Impinj from $140.00 to $180.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Needham & Company LLC increased their price target on shares of Impinj from $115.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Evercore ISI lifted their price target on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Susquehanna lifted their target price on shares of Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Finally, Cantor Fitzgerald boosted their price objective on shares of Impinj from $133.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $163.29.

Impinj Price Performance

PI traded down $2.64 during trading hours on Thursday, hitting $157.33. The company's stock had a trading volume of 330,936 shares, compared to its average volume of 647,518. The business's 50-day moving average price is $118.39 and its 200-day moving average price is $105.72. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 15,702.40 and a beta of 1.74. The company has a current ratio of 11.64, a quick ratio of 8.44 and a debt-to-equity ratio of 1.51.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.08. The business had revenue of $97.89 million for the quarter, compared to analysts' expectations of $93.78 million. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The business's revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. Sell-side analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal 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.