63,740 Shares in Impinj, Inc. (NASDAQ:PI) Bought by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC acquired a new position in shares of Impinj, Inc. (NASDAQ:PI) in the 4th quarter, Holdings Channel reports. The fund acquired 63,740 shares of the company’s stock, valued at approximately $5,739,000. Impinj accounts for about 1.4% of Lisanti Capital Growth LLC’s portfolio, making the stock its 19th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in PI. Asset Management One Co. Ltd. lifted its position in shares of Impinj by 74.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock worth $67,000 after buying an additional 524 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Impinj by 109.8% in the third quarter. Commonwealth Equity Services LLC now owns 4,730 shares of the company’s stock valued at $260,000 after purchasing an additional 2,476 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Impinj by 13.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,579 shares of the company’s stock worth $1,463,000 after purchasing an additional 3,098 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Impinj by 17.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the company’s stock worth $276,000 after buying an additional 748 shares in the last quarter. Finally, Shufro Rose & Co. LLC boosted its position in Impinj by 680.0% in the 3rd quarter. Shufro Rose & Co. LLC now owns 3,900 shares of the company’s stock valued at $215,000 after buying an additional 3,400 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PI shares. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price target (up previously from $130.00) on shares of Impinj in a research note on Thursday, April 25th. StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Roth Mkm increased their price target on Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Evercore ISI assumed coverage on Impinj in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 target price on the stock. Finally, The Goldman Sachs Group increased their price target on shares of Impinj from $130.00 to $156.00 and gave the company a “buy” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.89.

Impinj Stock Up 1.3 %

PI stock traded up $2.10 during mid-day trading on Monday, reaching $163.33. The company had a trading volume of 384,891 shares, compared to its average volume of 431,855. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of -466.66 and a beta of 1.85. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $163.97. The stock has a 50 day simple moving average of $126.12 and a two-hundred day simple moving average of $100.06. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The business had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. As a group, equities analysts predict that Impinj, Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other news, insider Cathal G. Phelan sold 10,000 shares of Impinj stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $106.23, for a total transaction of $1,062,300.00. Following the completion of the sale, the insider now owns 21,750 shares of the company’s stock, valued at $2,310,502.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Hussein Mecklai sold 30,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the sale, the chief operating officer now directly owns 40,489 shares in the company, valued at approximately $4,243,247.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Cathal G. Phelan sold 10,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $106.23, for a total value of $1,062,300.00. Following the sale, the insider now directly owns 21,750 shares in the company, valued at $2,310,502.50. The disclosure for this sale can be found here. Insiders have sold a total of 183,321 shares of company stock worth $22,221,714 over the last ninety days. Insiders own 51.00% of the company’s stock.

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.