Fmr LLC Has $913.15 Million Position in Impinj, Inc. (NASDAQ:PI)

Fmr LLC boosted its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 1.5% in the third quarter, Holdings Channel.com reports. The fund owned 4,217,403 shares of the company’s stock after buying an additional 60,461 shares during the quarter. Fmr LLC owned about 0.15% of Impinj worth $913,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PI. Assenagon Asset Management S.A. acquired a new position in Impinj during the second quarter valued at approximately $103,252,000. Renaissance Technologies LLC acquired a new position in shares of Impinj in the 2nd quarter valued at $30,116,000. Principal Financial Group Inc. increased its position in shares of Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after buying an additional 122,579 shares in the last quarter. AXA S.A. acquired a new stake in Impinj during the 2nd quarter worth $11,574,000. Finally, Telemark Asset Management LLC bought a new position in Impinj during the third quarter worth about $12,991,000.

Impinj Trading Down 3.2 %

Shares of PI opened at $189.25 on Thursday. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 212.64 and a beta of 1.81. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88. The firm has a fifty day simple moving average of $206.38 and a 200 day simple moving average of $177.50.

Impinj (NASDAQ:PI) last posted its quarterly earnings data 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 during 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%. The company’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.36) EPS. As a group, research analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Activity at Impinj

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

Analysts Set New Price Targets

Several brokerages have issued reports on PI. Evercore ISI restated an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. 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 note on Friday, October 25th. Susquehanna lifted their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, Cantor Fitzgerald raised their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Impinj Company 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.