Jennison Associates LLC Reduces Stake in Impinj, Inc. $PI

Jennison Associates LLC lowered its holdings in Impinj, Inc. (NASDAQ:PI) by 1.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 248,994 shares of the company’s stock after selling 4,903 shares during the quarter. Jennison Associates LLC’s holdings in Impinj were worth $27,656,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in shares of Impinj by 68.7% in the 1st quarter. GAMMA Investing LLC now owns 722 shares of the company’s stock valued at $65,000 after buying an additional 294 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Impinj by 7.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,169 shares of the company’s stock valued at $741,000 after buying an additional 535 shares in the last quarter. KBC Group NV boosted its holdings in shares of Impinj by 35.0% in the 1st quarter. KBC Group NV now owns 1,227 shares of the company’s stock valued at $111,000 after buying an additional 318 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Impinj in the 1st quarter valued at $336,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Impinj by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 171,139 shares of the company’s stock valued at $15,522,000 after buying an additional 5,475 shares in the last quarter.

Wall Street Analyst Weigh In

PI has been the subject of several research analyst reports. Piper Sandler upped their target price on shares of Impinj from $180.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Barclays initiated coverage on shares of Impinj in a report on Tuesday, October 7th. They issued an “overweight” rating and a $200.00 target price for the company. Susquehanna set a $255.00 price target on shares of Impinj in a research report on Thursday. Needham & Company LLC upped their price target on shares of Impinj from $195.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Roth Capital reiterated a “buy” rating and issued a $235.00 price target on shares of Impinj in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.25.

Impinj Stock Down 14.8%

Impinj stock opened at $206.08 on Friday. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of -468.35 and a beta of 1.83. The company has a current ratio of 11.64, a quick ratio of 8.44 and a debt-to-equity ratio of 1.51. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $247.06. The stock has a 50 day moving average of $195.44 and a two-hundred day moving average of $143.87.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $96.06 million during the quarter, compared to the consensus estimate of $92.71 million. Impinj had a negative net margin of 3.45% and a positive return on equity of 8.50%. Impinj’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 EPS. Impinj has set its Q4 2025 guidance at 0.480-0.520 EPS. As a group, research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current year.

Insiders Place Their Bets

In other Impinj news, CEO Chris Ph.D. Diorio sold 5,000 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $192.30, for a total transaction of $961,500.00. Following the completion of the transaction, the chief executive officer owned 341,109 shares in the company, valued at approximately $65,595,260.70. This represents a 1.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sylebra Capital Llc sold 300,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $196.24, for a total transaction of $58,872,000.00. Following the transaction, the insider owned 1,829,260 shares of the company’s stock, valued at approximately $358,973,982.40. The trade was a 14.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 324,096 shares of company stock valued at $63,353,832. 12.40% of the stock is owned by insiders.

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.