Centiva Capital LP Invests $2.28 Million in Impinj, Inc. (NASDAQ:PI)

Centiva Capital LP bought a new stake in Impinj, Inc. (NASDAQ:PI) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 15,664 shares of the company’s stock, valued at approximately $2,275,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after buying an additional 122,579 shares during the last quarter. Nordea Investment Management AB acquired a new position in Impinj in the 4th quarter valued at $3,341,000. Diversified Trust Co lifted its stake in shares of Impinj by 11.9% during the 4th quarter. Diversified Trust Co now owns 2,251 shares of the company’s stock worth $327,000 after purchasing an additional 240 shares during the period. Harbour Capital Advisors LLC boosted its holdings in shares of Impinj by 14.1% during the fourth quarter. Harbour Capital Advisors LLC now owns 3,445 shares of the company’s stock worth $521,000 after purchasing an additional 425 shares during the last quarter. Finally, Inspire Investing LLC grew its position in shares of Impinj by 45.0% in the fourth quarter. Inspire Investing LLC now owns 2,752 shares of the company’s stock valued at $400,000 after purchasing an additional 854 shares during the period.

Insider Buying and Selling

In related news, COO Hussein Mecklai sold 3,739 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $369,450.59. Following the transaction, the chief operating officer now owns 70,347 shares in the company, valued at approximately $6,950,987.07. The trade was a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Cary Baker sold 1,553 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now directly owns 76,451 shares of the company’s stock, valued at $7,550,300.76. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,857 shares of company stock valued at $1,665,290. Corporate insiders own 51.00% of the company’s stock.

Impinj Trading Down 2.0 %

Shares of PI stock opened at $96.51 on Wednesday. The company has a market cap of $2.80 billion, a PE ratio of 70.96 and a beta of 1.64. The company’s fifty day simple moving average is $84.91 and its 200-day simple moving average is $130.45. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.09 by $0.12. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The company had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. During the same period last year, the company posted $0.21 earnings per share. The firm’s revenue was down 3.3% compared to the same quarter last year. Equities research analysts expect that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PI. The Goldman Sachs Group reduced their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC decreased their target price on shares of Impinj from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $133.00 price target on shares of Impinj in a research report on Thursday, April 24th. Susquehanna cut their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Finally, Evercore ISI boosted their price objective on shares of Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

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.