Landscape Capital Management L.L.C. Purchases New Shares in Impinj, Inc. (NASDAQ:PI)

Landscape Capital Management L.L.C. acquired a new stake in Impinj, Inc. (NASDAQ:PI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,474 shares of the company’s stock, valued at approximately $536,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Impinj during the 3rd quarter worth $54,000. SouthState Corp bought a new position in Impinj in the 2nd quarter valued at $94,000. nVerses Capital LLC increased its stake in shares of Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares during the period. Finally, Jamison Private Wealth Management Inc. increased its stake in shares of Impinj by 211.2% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after buying an additional 549 shares during the period.

Impinj Stock Up 1.5 %

PI opened at $191.04 on Friday. The stock has a market cap of $5.40 billion, a P/E ratio of 214.65 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 company has a fifty day simple moving average of $206.17 and a 200 day simple moving average of $176.75.

Impinj (NASDAQ:PI) last announced its quarterly earnings results 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 company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same period in the prior year, the company earned ($0.36) earnings per share. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, equities research analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other news, insider Cathal G. Phelan sold 209 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the transaction, the insider now directly owns 17,647 shares of the company’s stock, valued at $3,690,870.05. This trade represents a 1.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 655,674 shares of company stock valued at $131,623,305. 51.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PI. The Goldman Sachs Group raised their price target on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Susquehanna boosted their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Cantor Fitzgerald lifted their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC increased their price target on Impinj from $195.00 to $245.00 and gave the company a “buy” rating 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. Based on data from MarketBeat, the stock has an average 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.