Lisanti Capital Growth LLC Boosts Holdings in Impinj, Inc. $PI

Lisanti Capital Growth LLC lifted its stake in shares of Impinj, Inc. (NASDAQ:PI) by 11.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,351 shares of the company’s stock after purchasing an additional 3,716 shares during the period. Impinj comprises 1.7% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 13th biggest position. Lisanti Capital Growth LLC’s holdings in Impinj were worth $6,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PI. CoreCap Advisors LLC acquired a new stake in Impinj in the 3rd quarter worth about $27,000. Salomon & Ludwin LLC acquired a new stake in shares of Impinj in the third quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Impinj during the second quarter worth approximately $28,000. Harbour Investments Inc. acquired a new position in Impinj in the 2nd quarter valued at $33,000. Finally, Quaker Wealth Management LLC lifted its holdings in Impinj by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 300 shares of the company’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter.

Impinj Stock Performance

NASDAQ PI opened at $138.10 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.97 and a debt-to-equity ratio of 0.94. The stock has a market cap of $4.16 billion, a PE ratio of -313.86 and a beta of 1.52. The stock has a fifty day simple moving average of $169.40 and a 200-day simple moving average of $172.37. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $247.06.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Impinj had a negative net margin of 3.45% and a positive return on equity of 8.15%. The business had revenue of $96.06 million for the quarter, compared to the consensus estimate of $92.71 million. During the same period in the previous year, the firm earned $0.56 EPS. The business’s revenue was up .9% on a year-over-year basis. Equities analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PI. Susquehanna set a $255.00 target price on shares of Impinj in a report on Thursday, October 30th. Zacks Research cut shares of Impinj from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Needham & Company LLC reissued a “buy” rating and issued a $255.00 target price on shares of Impinj in a research note on Friday, January 16th. Cantor Fitzgerald upped their price target on Impinj from $217.00 to $246.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Piper Sandler increased their price target on Impinj from $180.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $225.22.

Insiders Place Their Bets

In other Impinj news, insider Sylebra Capital Llc sold 134,629 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $150.36, for a total value of $20,242,816.44. Following the sale, the insider owned 1,132,152 shares of the company’s stock, valued at $170,230,374.72. The trade was a 10.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 697,450 shares of company stock valued at $110,643,153. 12.40% of the stock is currently owned by company insiders.

Impinj Profile

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj’s platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj’s product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).