Moloney Securities Asset Management LLC Takes Position in Impinj, Inc. (NASDAQ:PI)

Moloney Securities Asset Management LLC acquired a new stake in Impinj, Inc. (NASDAQ:PI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,440 shares of the company’s stock, valued at approximately $1,178,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PI. Assenagon Asset Management S.A. purchased a new position in shares of Impinj in the 2nd quarter valued at about $103,252,000. Renaissance Technologies LLC purchased a new stake in Impinj during the second quarter worth approximately $30,116,000. TimesSquare Capital Management LLC purchased a new stake in Impinj during the first quarter worth approximately $19,195,000. Lord Abbett & CO. LLC purchased a new stake in Impinj during the first quarter worth approximately $9,659,000. Finally, AXA S.A. purchased a new stake in Impinj during the second quarter worth approximately $11,574,000.

Impinj Trading Up 2.8 %

NASDAQ:PI opened at $198.23 on Wednesday. The firm has a market cap of $5.61 billion, a P/E ratio of 222.73 and a beta of 1.81. The stock’s 50 day simple moving average is $201.17 and its 200-day simple moving average is $173.32. Impinj, Inc. has a 12-month low of $66.54 and a 12-month high of $239.88.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Susquehanna boosted their target price on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their target price on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Cantor Fitzgerald lifted their price target on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Insider Activity

In related news, CRO Jeffrey Dossett sold 488 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $237.84, for a total transaction of $116,065.92. Following the transaction, the executive now owns 65,294 shares of the company’s stock, valued at $15,529,524.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $155,006,638.64. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 488 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $237.84, for a total value of $116,065.92. Following the transaction, the executive now directly owns 65,294 shares in the company, valued at $15,529,524.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 216,327 shares of company stock valued at $42,821,483. Company insiders own 51.00% of the company’s stock.

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.