Creative Planning cut its stake in shares of Impinj, Inc. (NASDAQ:PI – Get Rating) by 40.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,466 shares of the company's stock after selling 5,075 shares during the quarter. Creative Planning's holdings in Impinj were worth $598,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in PI. Toronado Partners LLC boosted its holdings in Impinj by 76.2% in the second quarter. Toronado Partners LLC now owns 752,979 shares of the company's stock valued at $44,177,000 after purchasing an additional 325,756 shares during the last quarter. Invesco Ltd. raised its position in shares of Impinj by 16.5% in the first quarter. Invesco Ltd. now owns 1,189,985 shares of the company's stock worth $75,610,000 after acquiring an additional 168,597 shares during the period. Sei Investments Co. acquired a new position in shares of Impinj in the second quarter worth about $8,500,000. State Street Corp raised its position in shares of Impinj by 18.2% in the first quarter. State Street Corp now owns 922,301 shares of the company's stock worth $58,603,000 after acquiring an additional 142,182 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Impinj by 14.8% in the second quarter. Victory Capital Management Inc. now owns 684,914 shares of the company's stock worth $40,184,000 after acquiring an additional 88,231 shares during the period. 97.32% of the stock is owned by hedge funds and other institutional investors.
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Impinj Stock Performance
Impinj stock opened at $139.11 on Thursday. The company has a debt-to-equity ratio of 135.78, a current ratio of 7.73 and a quick ratio of 6.78. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of -78.59, a price-to-earnings-growth ratio of 22.70 and a beta of 2.31. The firm has a 50 day simple moving average of $118.65 and a 200-day simple moving average of $101.16. Impinj, Inc. has a 1-year low of $39.74 and a 1-year high of $140.89.
Insider Buying and Selling
In related news, major shareholder Sylebra Capital Ltd sold 100,570 shares of the stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $110.85, for a total transaction of $11,148,184.50. Following the completion of the transaction, the insider now owns 3,174,937 shares of the company's stock, valued at approximately $351,941,766.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through
the SEC website. In other Impinj news, CRO Jeffrey Dossett sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $127.55, for a total value of $255,100.00. Following the completion of the transaction, the executive now owns 41,792 shares of the company's stock, valued at approximately $5,330,569.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through
this link. Also, major shareholder Sylebra Capital Ltd sold 100,570 shares of the firm's stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $110.85, for a total transaction of $11,148,184.50. Following the completion of the transaction, the insider now directly owns 3,174,937 shares of the company's stock, valued at approximately $351,941,766.45. The disclosure for this sale can be found
here. In the last quarter, insiders sold 452,413 shares of company stock valued at $53,352,919. Company insiders own 20.20% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Needham & Company LLC upped their price objective on shares of Impinj from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, January 12th. StockNews.com started coverage on shares of Impinj in a research report on Wednesday, October 12th. They set a "sell" rating for the company. Lake Street Capital increased their price objective on shares of Impinj from $109.00 to $132.00 in a report on Wednesday, January 11th. Piper Sandler increased their price objective on shares of Impinj from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, January 27th. Finally, Canaccord Genuity Group increased their price target on shares of Impinj from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, October 28th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Impinj has a consensus rating of "Moderate Buy" and an average price target of $120.14.
About Impinj
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IImpinj, Inc engages in the development and sale of RAIN, a radio frequency identification solution. Its platform allows inventory management, patient safety, asset tracking and item authentication for the retail, healthcare, supply chain and logistics, hospitality, food and beverage, and industrial manufacturing industries.
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