Graham Capital Management L.P. Has $1.74 Million Holdings in Impinj, Inc. (NASDAQ:PI)

Graham Capital Management L.P. raised its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 29.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,964 shares of the company's stock after acquiring an additional 2,693 shares during the quarter. Graham Capital Management L.P.'s holdings in Impinj were worth $1,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of PI. Hillsdale Investment Management Inc. lifted 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 valued at $3,586,000 after buying an additional 95 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Impinj by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock valued at $1,612,000 after buying an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Impinj by 6.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock valued at $238,000 after buying an additional 106 shares in the last quarter. Cynosure Group LLC lifted its stake in Impinj by 7.8% during the fourth quarter. Cynosure Group LLC now owns 1,953 shares of the company's stock valued at $284,000 after buying an additional 142 shares in the last quarter. Finally, Xponance Inc. lifted its stake in Impinj by 10.5% during the fourth quarter. Xponance Inc. now owns 1,660 shares of the company's stock valued at $241,000 after buying an additional 158 shares in the last quarter.

Insider Transactions at Impinj

In related news, CRO Jeffrey Dossett sold 2,666 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $263,427.46. Following the transaction, the executive now directly owns 71,886 shares in the company, valued at approximately $7,103,055.66. This trade represents a 3.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Cary Baker sold 1,553 shares of Impinj stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the transaction, the chief financial officer now owns 76,451 shares in the company, valued at $7,550,300.76. This trade represents a 1.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,857 shares of company stock worth $1,665,290. 12.40% of the stock is owned by corporate insiders.

Impinj Stock Up 2.7%

PI stock traded up $3.30 during trading hours on Friday, hitting $125.05. The company's stock had a trading volume of 495,007 shares, compared to its average volume of 595,020. The stock has a 50 day moving average price of $87.71 and a two-hundred day moving average price of $125.13. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The company has a market capitalization of $3.62 billion, a PE ratio of 91.95 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.12. The firm had revenue of $74.28 million during the quarter, compared to analysts' expectations of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. Impinj's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. Sell-side analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on PI. Susquehanna reduced their price objective on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research note on Wednesday, January 22nd. Needham & Company LLC dropped their target price on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $133.00 target price on shares of Impinj in a report on Thursday, April 24th. The Goldman Sachs Group dropped their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Finally, Evercore ISI upped their target price on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.38.

Impinj 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.