Axiom Investors LLC DE Makes New $4.15 Million Investment in Impinj, Inc. (NASDAQ:PI)

Axiom Investors LLC DE bought a new position in shares of Impinj, Inc. (NASDAQ:PI) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 30,636 shares of the company’s stock, valued at approximately $4,152,000. Axiom Investors LLC DE owned about 0.11% of Impinj at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PI. C M Bidwell & Associates Ltd. acquired a new position in shares of Impinj in the 1st quarter worth approximately $39,000. Advisors Asset Management Inc. bought a new stake in Impinj during the first quarter valued at $39,000. Focused Wealth Management Inc acquired a new stake in Impinj during the 1st quarter worth about $54,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Impinj by 671.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 540 shares of the company’s stock worth $59,000 after acquiring an additional 470 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Impinj in the 1st quarter valued at about $80,000.

Analysts Set New Price Targets

PI has been the subject of a number of research reports. Lake Street Capital reduced their price target on shares of Impinj from $130.00 to $90.00 in a report on Thursday, July 27th. StockNews.com raised Impinj to a “sell” rating in a research report on Thursday, August 24th. BWS Financial initiated coverage on Impinj in a report on Monday, June 26th. They issued a “sell” rating and a $45.00 price target on the stock. Finally, Needham & Company LLC lowered their target price on Impinj from $145.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $112.00.

Impinj Stock Down 4.2 %

Shares of NASDAQ:PI traded down $2.94 during midday trading on Thursday, reaching $67.18. 129,808 shares of the company traded hands, compared to its average volume of 604,062. The company has a debt-to-equity ratio of 7.64, a quick ratio of 3.37 and a current ratio of 5.57. Impinj, Inc. has a 12 month low of $55.01 and a 12 month high of $144.90. The firm’s fifty day moving average price is $72.03 and its two-hundred day moving average price is $99.83.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, July 26th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). Impinj had a negative net margin of 4.65% and a negative return on equity of 23.30%. The business had revenue of $85.99 million for the quarter, compared to the consensus estimate of $85.43 million. Analysts predict that Impinj, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other news, major shareholder Sylebra Capital Ltd acquired 263,740 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $58.26 per share, with a total value of $15,365,492.40. Following the completion of the transaction, the insider now owns 3,111,825 shares of the company’s stock, valued at approximately $181,294,924.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Sylebra Capital Ltd bought 263,740 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $58.26 per share, with a total value of $15,365,492.40. Following the completion of the purchase, the insider now owns 3,111,825 shares in the company, valued at approximately $181,294,924.50. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Chris Ph.D. Diorio sold 591 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $100.93, for a total transaction of $59,649.63. Following the completion of the transaction, the chief executive officer now owns 293,546 shares of the company’s stock, valued at $29,627,597.78. The disclosure for this sale can be found here. In the last three months, insiders have bought 674,101 shares of company stock valued at $40,527,175 and have sold 21,139 shares valued at $1,875,094. Insiders own 17.10% of the company’s stock.

About Impinj

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.