State of New Jersey Common Pension Fund D Makes New $2.03 Million Investment in Impinj, Inc. (NASDAQ:PI)

State of New Jersey Common Pension Fund D bought a new position in shares of Impinj, Inc. (NASDAQ:PIGet Rating) during the 3rd quarter, Holdings Channel.com reports. The firm bought 25,354 shares of the company’s stock, valued at approximately $2,029,000.

Several other hedge funds have also recently bought and sold shares of PI. Advisors Asset Management Inc. acquired a new stake in shares of Impinj in the first quarter valued at about $39,000. Vectors Research Management LLC acquired a new stake in shares of Impinj in the second quarter valued at about $59,000. Quantbot Technologies LP acquired a new stake in shares of Impinj in the first quarter valued at about $101,000. Asset Management One Co. Ltd. acquired a new stake in shares of Impinj in the second quarter valued at about $151,000. Finally, Adalta Capital Management LLC acquired a new stake in shares of Impinj in the second quarter valued at about $176,000. 97.32% of the stock is owned by institutional investors and hedge funds.

Impinj Stock Down 4.5 %

Shares of PI opened at $127.50 on Friday. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -72.03, a P/E/G ratio of 57.98 and a beta of 2.31. The company has a quick ratio of 6.78, a current ratio of 7.73 and a debt-to-equity ratio of 135.78. Impinj, Inc. has a 12 month low of $39.74 and a 12 month high of $137.13. The company has a 50-day moving average price of $116.04 and a two-hundred day moving average price of $96.80.

Impinj (NASDAQ:PIGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.17. The firm had revenue of $68.27 million during the quarter, compared to analysts’ expectations of $64.67 million. Impinj had a negative net margin of 18.91% and a negative return on equity of 236.49%. Equities analysts predict that Impinj, Inc. will post -0.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group raised their price target on Impinj from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, October 28th. Piper Sandler increased their target price on shares of Impinj from $100.00 to $120.00 in a research note on Thursday, October 27th. Needham & Company LLC increased their target price on shares of Impinj from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, January 12th. Jefferies Financial Group increased their target price on shares of Impinj from $112.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, January 12th. Finally, Lake Street Capital increased their target price on shares of Impinj from $109.00 to $132.00 in a research note on Wednesday, January 11th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.29.

Insiders Place Their Bets

In other Impinj news, CEO Chris Ph.D. Diorio sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $108.68, for a total transaction of $543,400.00. Following the completion of the transaction, the chief executive officer now owns 299,307 shares in the company, valued at $32,528,684.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CRO Jeffrey Dossett sold 2,000 shares of Impinj 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 in the company, valued at $5,330,569.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $108.68, for a total transaction of $543,400.00. Following the completion of the transaction, the chief executive officer now owns 299,307 shares of the company’s stock, valued at approximately $32,528,684.76. The disclosure for this sale can be found here. Insiders sold a total of 500,321 shares of company stock worth $58,665,552 over the last quarter. Company insiders own 20.20% of the company’s stock.

Impinj Profile

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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Institutional Ownership by Quarter for Impinj (NASDAQ:PI)

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