Emerald Mutual Fund Advisers Trust Purchases 9,301 Shares of Impinj, Inc. (NASDAQ:PI)

Emerald Mutual Fund Advisers Trust lifted its position in shares of Impinj, Inc. (NASDAQ:PI) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,503 shares of the company’s stock after purchasing an additional 9,301 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.49% of Impinj worth $21,556,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after purchasing an additional 35,893 shares in the last quarter. Capital International Investors bought a new position in Impinj during the 4th quarter valued at approximately $68,211,000. Assenagon Asset Management S.A. bought a new position in Impinj during the 2nd quarter valued at approximately $103,252,000. Janus Henderson Group PLC raised its stake in Impinj by 0.6% during the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after buying an additional 2,681 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in Impinj by 19.6% in the fourth quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock worth $18,435,000 after acquiring an additional 33,504 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PI shares. Roth Mkm upped their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $205.00 target price on shares of Impinj in a report on Thursday, July 25th. Lake Street Capital boosted their price target on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Susquehanna increased their price objective on Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group lowered Impinj from a “buy” rating to a “neutral” rating and set a $156.00 target price for the company. in a research report on Monday, May 20th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.10.

Insiders Place Their Bets

In related news, CFO Cary Baker sold 308 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $149.94, for a total transaction of $46,181.52. Following the completion of the transaction, the chief financial officer now directly owns 68,422 shares of the company’s stock, valued at $10,259,194.68. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $146.49, for a total value of $732,450.00. Following the completion of the transaction, the chief executive officer now owns 286,230 shares in the company, valued at $41,929,832.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Cary Baker sold 308 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $149.94, for a total value of $46,181.52. Following the sale, the chief financial officer now directly owns 68,422 shares in the company, valued at $10,259,194.68. The disclosure for this sale can be found here. Insiders have sold a total of 49,804 shares of company stock worth $7,705,643 in the last 90 days. 51.00% of the stock is currently owned by corporate insiders.

Impinj Price Performance

PI opened at $156.73 on Friday. The firm has a market cap of $4.34 billion, a P/E ratio of -447.80 and a beta of 1.78. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $181.88. The company has a 50 day simple moving average of $160.44 and a two-hundred day simple moving average of $146.22.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Equities analysts anticipate that Impinj, Inc. will post 0.31 earnings per share for the current year.

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.