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

Graham Capital Management L.P. boosted its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 29.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its stake in Impinj by 85.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company's stock worth $174,000 after buying an additional 542 shares during the last quarter. TimesSquare Capital Management LLC grew its position in Impinj by 92.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company's stock worth $20,454,000 after acquiring an additional 67,510 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Impinj by 7.0% during the 4th quarter. Victory Capital Management Inc. now owns 20,825 shares of the company's stock valued at $3,025,000 after purchasing an additional 1,363 shares in the last quarter. KBC Group NV grew its holdings in shares of Impinj by 33.5% during the fourth quarter. KBC Group NV now owns 909 shares of the company's stock worth $132,000 after purchasing an additional 228 shares during the last quarter. Finally, Norges Bank acquired a new position in Impinj during the 4th quarter worth about $40,100,000.

Impinj Stock Performance

NASDAQ PI traded up $0.29 on Thursday, reaching $121.75. The company had a trading volume of 584,333 shares, compared to its average volume of 593,536. The company's fifty day moving average is $86.68 and its 200-day moving average is $126.69. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 89.52 and a beta of 1.64. Impinj, Inc. has a 1-year low of $60.85 and a 1-year high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last posted 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 business had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. Impinj's quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. On average, research analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Insider Transactions at Impinj

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $34,975,627.28. This represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 565 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the sale, the insider now owns 7,925 shares of the company's stock, valued at $782,752.25. This trade represents a 6.65% decrease in their ownership of the stock. 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 over the last 90 days. 12.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PI has been the subject of a number of research analyst reports. Evercore ISI boosted their target price on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. 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. Susquehanna decreased their price objective on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler dropped their price target on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Impinj has a consensus rating of "Moderate Buy" and a consensus target price 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.