Impinj, Inc. $PI Stock Position Raised by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lifted its holdings in Impinj, Inc. (NASDAQ:PI) by 462.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,445 shares of the company’s stock after buying an additional 25,850 shares during the period. Impinj makes up 1.5% of Lisanti Capital Growth LLC’s holdings, making the stock its 19th biggest position. Lisanti Capital Growth LLC owned 0.10% of Impinj worth $5,638,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. acquired a new position in Impinj during the second quarter worth about $637,286,000. The Manufacturers Life Insurance Company acquired a new stake in Impinj in the 2nd quarter valued at about $95,867,000. William Blair Investment Management LLC acquired a new stake in Impinj in the 2nd quarter valued at about $42,514,000. AWM Investment Company Inc. purchased a new position in Impinj in the 2nd quarter worth approximately $29,651,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Impinj by 7.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 181,978 shares of the company’s stock worth $18,551,000 after purchasing an additional 11,896 shares in the last quarter.

Analysts Set New Price Targets

PI has been the topic of several recent research reports. Wall Street Zen upgraded Impinj from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. UBS Group upped their price target on Impinj from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Impinj in a report on Wednesday, October 28th. Zacks Research downgraded Impinj from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of Impinj in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and a consensus price target of $196.10.

Insider Activity

In other news, CFO Cary Baker sold 8,892 shares of Impinj stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $185.00, for a total transaction of $1,645,020.00. Following the sale, the chief financial officer owned 80,388 shares of the company’s stock, valued at approximately $14,871,780. The trade was a 9.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Miron Washington sold 800 shares of Impinj stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $173.26, for a total transaction of $138,608.00. Following the sale, the director directly owned 4,354 shares in the company, valued at approximately $754,374.04. The trade was a 15.52% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 101,612 shares of company stock worth $18,797,773. Corporate insiders own 6.80% of the company’s stock.

Impinj Trading Up 1.6%

Shares of PI opened at $174.56 on Thursday. The company has a current ratio of 9.42, a quick ratio of 7.07 and a debt-to-equity ratio of 0.61. Impinj, Inc. has a 12-month low of $87.36 and a 12-month high of $215.25. The firm has a 50-day moving average price of $178.30 and a 200 day moving average price of $144.59. The firm has a market capitalization of $5.39 billion, a P/E ratio of 357.94 and a beta of 1.90.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.08. Impinj had a negative net margin of 2.45% and a positive return on equity of 6.65%. The firm had revenue of $112.08 million during the quarter, compared to analysts’ expectations of $107.16 million. During the same period last year, the business earned $0.58 earnings per share. Impinj’s revenue was up 16.7% compared to the same quarter last year. Sell-side analysts forecast that Impinj, Inc. will post 0.59 EPS for the current year.

About Impinj

Impinj, Inc. develops radio-frequency identification (RFID) technology used to identify and track items. Its platform is based on RAIN RFID, a wireless technology that enables businesses to collect item-level data without requiring direct line of sight. The company’s products include endpoint integrated circuits that are embedded in item tags, reader chips that capture tag data, and related systems and software. These technologies support applications such as inventory management, supply-chain visibility, asset tracking, and loss prevention across retail, logistics, healthcare, and other industries.