Harbour Capital Advisors LLC Raises Stock Position in Impinj, Inc. (NASDAQ:PI)

Harbour Capital Advisors LLC boosted its stake in Impinj, Inc. (NASDAQ:PI) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,445 shares of the company’s stock after purchasing an additional 425 shares during the period. Harbour Capital Advisors LLC’s holdings in Impinj were worth $521,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rhumbline Advisers boosted its holdings in shares of Impinj by 0.8% in the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after buying an additional 248 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Impinj during the 2nd quarter worth $4,415,000. Renaissance Technologies LLC bought a new stake in shares of Impinj during the 2nd quarter valued at $30,116,000. Hsbc Holdings PLC increased its stake in shares of Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after purchasing an additional 190 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Impinj in the 2nd quarter worth $204,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Susquehanna boosted their price target on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. Needham & Company LLC increased their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Lake Street Capital increased their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Piper Sandler restated an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Impinj currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Insider Buying and Selling at Impinj

In related news, major shareholder Sylebra Capital Llc sold 32,031 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total transaction of $6,257,255.85. Following the sale, the insider now owns 3,021,548 shares in the company, valued at approximately $590,259,401.80. This represents a 1.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction on Tuesday, December 24th. The stock was 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. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 653,191 shares of company stock worth $130,804,235 over the last 90 days. 51.00% of the stock is owned by insiders.

Impinj Trading Up 1.9 %

NASDAQ:PI opened at $146.32 on Tuesday. The business’s 50-day moving average is $168.32 and its 200 day moving average is $177.04. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88. The company has a market capitalization of $4.14 billion, a P/E ratio of 164.40 and a beta of 1.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same period in the prior year, the firm earned ($0.36) EPS. The company’s revenue for the quarter was up 46.5% on a year-over-year basis. On average, research analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current year.

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.