Impinj, Inc. (NASDAQ:PI) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC trimmed its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 34.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,470 shares of the company’s stock after selling 2,380 shares during the period. Legato Capital Management LLC’s holdings in Impinj were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj during the first quarter worth $32,000. GAMMA Investing LLC acquired a new position in Impinj in the 4th quarter worth $40,000. Headlands Technologies LLC purchased a new position in Impinj in the 4th quarter valued at about $58,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after acquiring an additional 521 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its stake in shares of Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after acquiring an additional 549 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $205.00 price target on shares of Impinj in a research note on Thursday, July 25th. Evercore ISI upped their target price on shares of Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Susquehanna increased their price target on shares of Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Piper Sandler boosted their price objective on Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, Roth Mkm upped their price objective on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.10.

Insider Buying and Selling

In other news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $153.10, for a total value of $153,100,000.00. Following the sale, the insider now owns 3,197,352 shares of the company’s stock, valued at approximately $489,514,591.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Chris Ph.D. Diorio sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $146.49, for a total transaction of $732,450.00. Following the sale, the chief executive officer now directly owns 286,230 shares of the company’s stock, valued at $41,929,832.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $153.10, for a total value of $153,100,000.00. Following the sale, the insider now directly owns 3,197,352 shares of the company’s stock, valued at $489,514,591.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,049,804 shares of company stock valued at $160,805,643 over the last quarter. Corporate insiders own 51.00% of the company’s stock.

Impinj Trading Up 1.3 %

NASDAQ PI opened at $164.66 on Wednesday. The company has a 50-day moving average price of $158.24 and a two-hundred day moving average price of $143.44. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $181.88. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of -470.46 and a beta of 1.78.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $97.47 million. During the same quarter in the previous year, the firm posted ($0.14) EPS. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. As a group, equities research analysts expect that Impinj, Inc. will post 0.31 earnings per share for the current fiscal year.

Impinj 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.