Impinj, Inc. (NASDAQ:PI) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its stake in Impinj, Inc. (NASDAQ:PI) by 45.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,493 shares of the company’s stock after selling 12,670 shares during the period. Quantbot Technologies LP owned 0.05% of Impinj worth $3,355,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Impinj by 1.5% in the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after acquiring an additional 60,461 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Impinj during the second quarter worth $103,252,000. Jennison Associates LLC boosted its holdings in Impinj by 15.0% in the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after purchasing an additional 31,269 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Impinj by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock valued at $41,840,000 after purchasing an additional 6,232 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Impinj during the second quarter worth $30,116,000.

Insiders Place Their Bets

In related news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 14.81 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $181.17, for a total value of $1,358,775.00. Following the completion of the transaction, the executive now owns 65,294 shares of the company’s stock, valued at $11,829,313.98. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 655,674 shares of company stock worth $131,623,305 over the last ninety days. Company insiders own 51.00% of the company’s stock.

Wall Street Analyst Weigh In

PI has been the subject of several research reports. Lake Street Capital lifted their price target on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Cantor Fitzgerald upped their target price on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Evercore ISI reissued an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group increased their target price on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Impinj Stock Performance

Shares of PI opened at $189.25 on Thursday. Impinj, Inc. has a one year low of $78.17 and a one year high of $239.88. The stock’s fifty day moving average is $206.38 and its 200-day moving average is $177.50. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 212.64 and a beta of 1.81.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. Impinj’s revenue was up 46.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.36) EPS. Analysts forecast that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

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.