Lisanti Capital Growth LLC Cuts Position in Impinj, Inc. (NASDAQ:PI)

Lisanti Capital Growth LLC reduced its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 56.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,180 shares of the company’s stock after selling 19,325 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Impinj were worth $2,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PI. National Bank of Canada FI purchased a new stake in shares of Impinj during the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC lifted its position in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Impinj during the 4th quarter valued at $33,000. Jones Financial Companies Lllp lifted its holdings in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after buying an additional 175 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Impinj by 116.5% during the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock valued at $53,000 after acquiring an additional 198 shares in the last quarter.

Wall Street Analyst Weigh In

PI has been the topic of several analyst reports. Piper Sandler dropped their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC cut their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Susquehanna cut their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. The Goldman Sachs Group cut their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald upgraded Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.10.

Insider Buying and Selling

In other Impinj news, insider Cathal G. Phelan sold 210 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $30,672.60. Following the transaction, the insider now directly owns 6,979 shares of the company’s stock, valued at $1,019,352.74. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Cary Baker sold 499 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $72,883.94. Following the transaction, the chief financial officer now directly owns 71,107 shares in the company, valued at $10,385,888.42. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,323 shares of company stock worth $2,454,588. Corporate insiders own 51.00% of the company’s stock.

Impinj Price Performance

Shares of PI stock opened at $92.27 on Friday. The business has a 50 day simple moving average of $122.39 and a 200 day simple moving average of $164.97. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 67.85 and a beta of 1.88. Impinj, Inc. has a 12-month low of $84.17 and a 12-month high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, equities analysts anticipate that Impinj, Inc. will post -0.47 EPS 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.