X Square Capital LLC Buys New Position in Impinj, Inc. (NASDAQ:PI)

X Square Capital LLC bought a new stake in Impinj, Inc. (NASDAQ:PI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,030 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors have also added to or reduced their stakes in PI. Hsbc Holdings PLC lifted its stake in Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after buying an additional 190 shares during the period. Rhumbline Advisers lifted its stake in Impinj by 0.8% in the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock valued at $5,158,000 after buying an additional 248 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Impinj in the first quarter valued at approximately $32,000. Arizona State Retirement System lifted its stake in Impinj by 4.1% in the second quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock valued at $1,032,000 after buying an additional 261 shares during the period. Finally, USA Financial Formulas lifted its stake in Impinj by 82.0% in the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock valued at $142,000 after buying an additional 296 shares during the period.

Insider Transactions at Impinj

In other news, CFO Cary Baker sold 366 shares of Impinj stock in a transaction on Monday, October 14th. The stock was sold at an average price of $237.83, for a total transaction of $87,045.78. Following the sale, the chief financial officer now directly owns 71,096 shares in the company, valued at $16,908,761.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Cary Baker sold 366 shares of Impinj stock in a transaction on Monday, October 14th. The stock was sold at an average price of $237.83, for a total transaction of $87,045.78. Following the sale, the chief financial officer now directly owns 71,096 shares in the company, valued at $16,908,761.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chris Ph.D. Diorio sold 1,219 shares of Impinj stock in a transaction on Monday, October 14th. The stock was sold at an average price of $237.82, for a total value of $289,902.58. Following the sale, the chief executive officer now owns 294,438 shares in the company, valued at $70,023,245.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,779 shares of company stock worth $3,825,046 in the last ninety days. Company insiders own 51.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PI. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Evercore ISI upped their target price on Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler reaffirmed an “overweight” rating and set a $225.00 target price (up from $180.00) on shares of Impinj in a research report on Friday, September 27th. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $205.00 target price on shares of Impinj in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.10.

Impinj Trading Down 0.5 %

NASDAQ PI opened at $222.46 on Thursday. The firm has a market capitalization of $6.26 billion, a P/E ratio of 767.10 and a beta of 1.80. The business has a fifty day simple moving average of $195.01 and a 200 day simple moving average of $168.26. Impinj, Inc. has a 12 month low of $48.39 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. Impinj’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.14) EPS. As a group, sell-side analysts predict that Impinj, Inc. will post 0.31 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.