Aquatic Capital Management LLC Acquires 17,670 Shares of Impinj, Inc. (NASDAQ:PI)

Aquatic Capital Management LLC lifted its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 267.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,270 shares of the company's stock after buying an additional 17,670 shares during the quarter. Aquatic Capital Management LLC owned approximately 0.09% of Impinj worth $3,525,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PI. Nordea Investment Management AB purchased a new stake in Impinj during the fourth quarter valued at about $3,341,000. Asset Management One Co. Ltd. boosted its position in Impinj by 85.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company's stock valued at $174,000 after acquiring an additional 542 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in Impinj by 92.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company's stock worth $20,454,000 after purchasing an additional 67,510 shares during the period. Victory Capital Management Inc. grew its holdings in Impinj by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 20,825 shares of the company's stock worth $3,025,000 after purchasing an additional 1,363 shares during the period. Finally, KBC Group NV lifted 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 valued at $132,000 after purchasing an additional 228 shares during the last quarter.

Insider Buying and Selling at Impinj

In other Impinj news, CRO Jeffrey Dossett sold 2,666 shares of the business'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 sale, the executive now owns 71,886 shares in the company, valued at $7,103,055.66. The trade was a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Hussein Mecklai sold 3,739 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $369,450.59. Following the transaction, the chief operating officer now owns 70,347 shares of the company's stock, valued at approximately $6,950,987.07. The trade was a 5.05 % decrease in their position. 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 ninety days. 51.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PI. Piper Sandler dropped their price target on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Susquehanna reduced their price target on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research report on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th. The Goldman Sachs Group lowered 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, StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Impinj has an average rating of "Moderate Buy" and a consensus price target of $160.33.

Impinj Stock Performance

Shares of NASDAQ PI traded up $3.87 during trading on Friday, hitting $98.80. The company had a trading volume of 552,814 shares, compared to its average volume of 586,823. The stock has a 50 day simple moving average of $84.65 and a 200 day simple moving average of $133.84. The firm has a market capitalization of $2.86 billion, a P/E ratio of 72.65 and a beta of 1.74. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last posted 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 business had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The company's revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. As a group, analysts predict that Impinj, Inc. will post -0.47 EPS for the current year.

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.