Occudo Quantitative Strategies LP Acquires New Holdings in Impinj, Inc. (NASDAQ:PI)

Occudo Quantitative Strategies LP acquired a new position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,779 shares of the company's stock, valued at approximately $404,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Impinj by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock valued at $500,009,000 after purchasing an additional 104,861 shares during the last quarter. Capital International Investors boosted its holdings 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 valued at $221,897,000 after buying an additional 473,721 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Impinj by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock valued at $79,654,000 after buying an additional 3,899 shares during the last quarter. Janus Henderson Group PLC raised its stake in Impinj by 3,824.4% during the 4th 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. Finally, Ameriprise Financial Inc. lifted its position in Impinj by 3.4% in the fourth quarter. Ameriprise Financial Inc. now owns 407,391 shares of the company's stock valued at $59,178,000 after acquiring an additional 13,264 shares during the last quarter.

Impinj Stock Down 0.9%

Shares of NASDAQ PI traded down $1.15 during mid-day trading on Wednesday, hitting $122.18. 74,412 shares of the company were exchanged, compared to its average volume of 590,974. The stock has a 50 day simple moving average of $89.03 and a 200-day simple moving average of $124.17. Impinj, Inc. has a 1-year low of $60.85 and a 1-year high of $239.88. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 89.91 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 EPS 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 the consensus estimate of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. Impinj's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. Analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on PI. Piper Sandler cut their target price on Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Susquehanna cut their price target on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Evercore ISI raised their target price on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Needham & Company LLC reduced their price target on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Impinj presently has an average rating of "Moderate Buy" and a consensus target price of $155.38.

Insider Buying and Selling at Impinj

In other news, CRO Jeffrey Dossett sold 2,666 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $263,427.46. Following the sale, the executive now owns 71,886 shares of the company's stock, valued at $7,103,055.66. The trade was a 3.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cathal G. Phelan sold 565 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the sale, the insider now owns 7,925 shares in the company, valued at approximately $782,752.25. This represents a 6.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,857 shares of company stock valued at $1,665,290. 12.40% of the stock is owned by corporate insiders.

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.