Entropy Technologies LP Purchases 400 Shares of Impinj, Inc. (NASDAQ:PI)

Entropy Technologies LP lifted its position in shares of Impinj, Inc. (NASDAQ:PI) by 9.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,724 shares of the company’s stock after purchasing an additional 400 shares during the period. Entropy Technologies LP’s holdings in Impinj were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC grew its stake in shares of Impinj by 210.2% in the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock worth $1,855,000 after purchasing an additional 5,807 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Impinj by 5.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 12,207 shares of the company’s stock worth $2,643,000 after buying an additional 644 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Impinj in the 3rd quarter valued at about $371,000. Mayflower Financial Advisors LLC acquired a new stake in shares of Impinj in the third quarter valued at about $241,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of Impinj during the third quarter worth about $260,000.

Insider Transactions at Impinj

In other Impinj news, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the transaction, the insider now directly owns 17,647 shares of the company’s stock, valued at $3,690,870.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Cathal G. Phelan sold 209 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the completion of the transaction, the insider now directly owns 17,647 shares of the company’s stock, valued at $3,690,870.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Cathal G. Phelan sold 677 shares of Impinj stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $162.46, for a total value of $109,985.42. Following the sale, the insider now owns 17,367 shares in the company, valued at $2,821,442.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 646,301 shares of company stock valued at $129,876,220 over the last ninety days. 51.00% of the stock is currently owned by insiders.

Impinj Stock Down 4.6 %

Shares of NASDAQ:PI opened at $185.76 on Thursday. Impinj, Inc. has a twelve month low of $75.83 and a twelve month high of $239.88. The stock’s 50 day moving average is $204.57 and its 200-day moving average is $175.63. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 208.72 and a beta of 1.81.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same period last year, the company earned ($0.36) earnings per share. The business’s revenue was up 46.5% on a year-over-year basis. Equities research analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on PI shares. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Roth Mkm upped their price target on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Lake Street Capital lifted their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their target price on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $224.60.

About Impinj

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.