Impinj, Inc. (NASDAQ:PI) Shares Sold by Pachira Investments Inc.

Pachira Investments Inc. reduced its stake in shares of Impinj, Inc. (NASDAQ:PI) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,071 shares of the company’s stock after selling 60 shares during the quarter. Impinj accounts for approximately 0.5% of Pachira Investments Inc.’s portfolio, making the stock its 29th largest holding. Pachira Investments Inc.’s holdings in Impinj were worth $665,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its stake in Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after acquiring an additional 190 shares during the last quarter. Rhumbline Advisers raised its position in shares of Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after purchasing an additional 248 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj during the 1st quarter worth approximately $32,000. Arizona State Retirement System lifted its stake in Impinj by 4.1% in the 2nd quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock valued at $1,032,000 after buying an additional 261 shares in the last quarter. Finally, USA Financial Formulas increased its position in Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after buying an additional 296 shares in the last quarter.

Impinj Stock Performance

NASDAQ PI opened at $218.30 on Friday. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 752.76 and a beta of 1.80. The company’s 50 day moving average price is $190.77 and its 200 day moving average price is $165.79. Impinj, Inc. has a one year low of $48.39 and a one year high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company had revenue of $102.50 million for the quarter, compared to analyst estimates of $97.47 million. During the same period last year, the company posted ($0.14) earnings per share. The firm’s revenue was up 19.2% compared to the same quarter last year. Sell-side analysts forecast that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 677 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $162.46, for a total transaction of $109,985.42. Following the sale, the insider now directly owns 17,367 shares of the company’s stock, valued at $2,821,442.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,779 shares of company stock valued at $3,825,046. Corporate insiders own 51.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PI shares. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Piper Sandler reissued an “overweight” rating and issued a $225.00 price objective (up previously from $180.00) on shares of Impinj in a research report on Friday, September 27th. Lake Street Capital raised their target price on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI boosted their price target on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Roth Mkm increased their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $191.60.

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.