Impinj, Inc. $PI Position Boosted by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC increased its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 462.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,445 shares of the company’s stock after purchasing an additional 25,850 shares during the quarter. Impinj accounts for approximately 1.5% of Lisanti Capital Growth LLC’s portfolio, making the stock its 19th biggest position. Lisanti Capital Growth LLC’s holdings in Impinj were worth $5,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PI. TOP Private Wealth LLC. purchased a new stake in Impinj in the 2nd quarter valued at about $25,000. Western Wealth Management LLC acquired a new position in Impinj in the first quarter valued at about $28,000. Signaturefd LLC boosted its stake in Impinj by 72.3% during the third quarter. Signaturefd LLC now owns 162 shares of the company’s stock worth $29,000 after buying an additional 68 shares during the period. Global Retirement Partners LLC purchased a new position in Impinj during the second quarter worth about $31,000. Finally, CoreCap Advisors LLC purchased a new position in Impinj during the third quarter worth about $37,000.

Impinj Price Performance

PI stock opened at $174.56 on Thursday. The company has a current ratio of 9.42, a quick ratio of 7.07 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $5.39 billion, a PE ratio of 357.94 and a beta of 1.90. Impinj, Inc. has a 12-month low of $87.36 and a 12-month high of $215.25. The business’s fifty day moving average price is $178.30 and its 200 day moving average price is $144.59.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, October 28th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.08. Impinj had a positive return on equity of 6.65% and a negative net margin of 2.45%. The firm had revenue of $112.08 million for the quarter, compared to analyst estimates of $107.16 million. During the same quarter in the prior year, the company earned $0.58 EPS. Impinj’s revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts anticipate that Impinj, Inc. will post 0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PI. Needham & Company LLC lifted their price target on shares of Impinj from $168.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Jefferies Financial Group upped their price objective on shares of Impinj from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of Impinj in a research report on Thursday, July 30th. Barclays lifted their target price on shares of Impinj from $200.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Finally, Wall Street Zen raised Impinj from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average price target of $196.10.

Insider Buying and Selling at Impinj

In other Impinj news, Director Meera Rao sold 1,729 shares of the business’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $201.60, for a total transaction of $348,566.40. Following the sale, the director directly owned 9,593 shares in the company, valued at $1,933,948.80. This represents a 15.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Cary Baker sold 8,892 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $185.00, for a total transaction of $1,645,020.00. Following the sale, the chief financial officer directly owned 80,388 shares in the company, valued at $14,871,780. This represents a 9.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 101,612 shares of company stock valued at $18,797,773 over the last three months. 6.80% of the stock is currently owned by company insiders.

Impinj Company Profile

Impinj, Inc. develops radio-frequency identification (RFID) technology used to identify and track items. Its platform is based on RAIN RFID, a wireless technology that enables businesses to collect item-level data without requiring direct line of sight. The company’s products include endpoint integrated circuits that are embedded in item tags, reader chips that capture tag data, and related systems and software. These technologies support applications such as inventory management, supply-chain visibility, asset tracking, and loss prevention across retail, logistics, healthcare, and other industries.