Schonfeld Strategic Advisors LLC Purchases 10,938 Shares of Impinj, Inc. (NASDAQ:PI)

Schonfeld Strategic Advisors LLC grew its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 138.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,821 shares of the company's stock after purchasing an additional 10,938 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 0.07% of Impinj worth $2,734,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PI. Principal Financial Group Inc. boosted its position in shares of Impinj by 4,013.7% during the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company's stock valued at $27,202,000 after buying an additional 122,579 shares during the last quarter. Nordea Investment Management AB bought a new position in Impinj in the fourth quarter worth approximately $3,341,000. Diversified Trust Co raised its holdings in Impinj by 11.9% in the fourth quarter. Diversified Trust Co now owns 2,251 shares of the company's stock worth $327,000 after purchasing an additional 240 shares in the last quarter. Harbour Capital Advisors LLC increased its position in shares of Impinj by 14.1% in the 4th quarter. Harbour Capital Advisors LLC now owns 3,445 shares of the company's stock valued at $521,000 after acquiring an additional 425 shares during the period. Finally, Inspire Investing LLC raised its position in Impinj by 45.0% during the fourth quarter. Inspire Investing LLC now owns 2,752 shares of the company's stock valued at $400,000 after acquiring an additional 854 shares in the last quarter.

Insider Activity

In related news, insider Cathal G. Phelan sold 565 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the sale, the insider now owns 7,925 shares in the company, valued at $782,752.25. The trade was a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cary Baker sold 1,553 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.76, for a total transaction of $153,374.28. Following the transaction, the chief financial officer now directly owns 76,451 shares of the company's stock, valued at $7,550,300.76. This represents a 1.99 % 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 worth $1,665,290 over the last 90 days. 12.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on PI shares. Evercore ISI raised their target price on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Needham & Company LLC decreased their target price on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Susquehanna decreased their target price on shares of 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 objective on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $160.33.

Impinj Price Performance

PI stock traded up $0.14 during trading on Thursday, reaching $97.82. The company had a trading volume of 483,725 shares, compared to its average volume of 589,168. The business has a 50 day moving average of $84.93 and a 200 day moving average of $130.22. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88. The company has a market cap of $2.84 billion, a P/E ratio of 71.93 and a beta of 1.64.

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

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.