Impinj, Inc. (NASDAQ:PI) Shares Acquired by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust increased its stake in Impinj, Inc. (NASDAQ:PI) by 4.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 143,219 shares of the company’s stock after acquiring an additional 5,716 shares during the quarter. Impinj makes up 1.6% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 12th largest holding. Emerald Mutual Fund Advisers Trust owned about 0.52% of Impinj worth $31,010,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its position in Impinj by 16.9% during the first quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock valued at $403,000 after buying an additional 454 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Impinj by 13.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after buying an additional 7,247 shares during the period. Jennison Associates LLC acquired a new position in Impinj during the first quarter valued at $25,747,000. SG Americas Securities LLC acquired a new position in Impinj during the first quarter valued at $513,000. Finally, TimesSquare Capital Management LLC acquired a new position in Impinj during the first quarter valued at $19,195,000.

Insider Activity at Impinj

In related news, insider Cathal G. Phelan sold 677 shares of the 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 completion of the sale, the insider now owns 17,367 shares in the company, valued at $2,821,442.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Impinj news, insider Cathal G. Phelan sold 677 shares of the company’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 value of $109,985.42. Following the completion of the transaction, the insider now owns 17,367 shares of the company’s stock, valued at $2,821,442.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total value of $313,261.76. Following the completion of the transaction, the chief executive officer now directly owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,284 shares of company stock worth $19,783,007 in the last 90 days. 51.00% of the stock is owned by company insiders.

Impinj Stock Performance

PI opened at $194.71 on Friday. The stock has a 50-day moving average of $199.89 and a 200-day moving average of $171.88. Impinj, Inc. has a 52-week low of $62.84 and a 52-week high of $239.88. The company has a market cap of $5.51 billion, a PE ratio of 218.78 and a beta of 1.82.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same quarter in the prior year, the company earned ($0.36) EPS. The firm’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, research analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on PI shares. Evercore ISI reissued an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their target price on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $235.00 target price (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC boosted their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Impinj currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

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.