Two Sigma Investments LP Has $20.45 Million Position in Impinj, Inc. (NASDAQ:PI)

Two Sigma Investments LP lessened its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,766 shares of the company’s stock after selling 24,294 shares during the period. Two Sigma Investments LP’s holdings in Impinj were worth $20,448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital International Investors increased its holdings in Impinj by 45.0% during the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock worth $221,897,000 after purchasing an additional 473,721 shares in the last quarter. Janus Henderson Group PLC boosted its position in Impinj by 3,824.4% during the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company’s stock worth $63,310,000 after acquiring an additional 424,851 shares during the last quarter. Norges Bank acquired a new position in Impinj during the 4th quarter worth approximately $40,100,000. Point72 Asset Management L.P. bought a new position in shares of Impinj during the 4th quarter worth approximately $30,697,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Impinj in the fourth quarter valued at approximately $27,699,000.

Insider Buying and Selling at Impinj

In related news, COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the sale, the chief operating officer now directly owns 70,347 shares of the company’s stock, valued at approximately $6,950,987.07. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Cary Baker sold 1,553 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 76,451 shares of the company’s stock, valued at $7,550,300.76. This trade represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,857 shares of company stock valued at $1,665,290 in the last quarter. 12.40% of the stock is currently owned by insiders.

Impinj Stock Down 4.7%

Shares of NASDAQ PI opened at $117.52 on Thursday. The business’s 50 day moving average price is $89.57 and its two-hundred day moving average price is $124.13. The company has a market cap of $3.41 billion, a PE ratio of 86.41 and a beta of 1.64. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.09 by $0.12. The company had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. As a group, research analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PI. The Goldman Sachs Group reduced their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Needham & Company LLC reduced their price objective on shares of Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th. Susquehanna lowered their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Finally, Evercore ISI increased their price target on Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Impinj has a consensus rating of “Moderate Buy” and a consensus target price of $155.38.

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.