Point72 Hong Kong Ltd Makes New $1.13 Million Investment in Impinj, Inc. (NASDAQ:PI)

Point72 Hong Kong Ltd purchased a new position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,762 shares of the company's stock, valued at approximately $1,128,000.

A number of other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC raised its stake in shares of Impinj by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 6,910 shares of the company's stock valued at $1,004,000 after acquiring an additional 2,129 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Impinj by 16.1% in the fourth quarter. Nuveen Asset Management LLC now owns 164,222 shares of the company's stock valued at $23,855,000 after acquiring an additional 22,834 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Impinj in the fourth quarter valued at approximately $404,000. Millennium Management LLC raised its stake in shares of Impinj by 10.5% in the fourth quarter. Millennium Management LLC now owns 70,358 shares of the company's stock valued at $10,220,000 after acquiring an additional 6,713 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Impinj by 7.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,736 shares of the company's stock valued at $6,353,000 after acquiring an additional 2,953 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the sale, the chief executive officer now 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 is accessible through this link. Also, COO Hussein Mecklai sold 3,739 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the sale, the chief operating officer now directly owns 70,347 shares of the company's stock, valued at $6,950,987.07. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,857 shares of company stock worth $1,665,290. 12.40% of the stock is owned by insiders.

Impinj Trading Down 1.2%

Impinj stock traded down $1.49 during mid-day trading on Wednesday, reaching $121.84. The company had a trading volume of 92,152 shares, compared to its average volume of 591,049. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88. The company has a market cap of $3.53 billion, a P/E ratio of 89.86 and a beta of 1.64. The business has a fifty day simple moving average of $89.03 and a 200 day simple moving average of $124.17.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.12. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The firm had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. During the same quarter last year, the firm earned $0.21 earnings per share. The company's revenue for the quarter was down 3.3% on a year-over-year basis. Research analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

PI has been the subject of a number of research reports. The Goldman Sachs Group lowered their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. StockNews.com lowered shares of Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Needham & Company LLC lowered their target price on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $133.00 target price on shares of Impinj in a report on Thursday, April 24th. Finally, Piper Sandler lowered their target price on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $155.38.

About Impinj

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.