Occudo Quantitative Strategies LP Makes New $404,000 Investment in Impinj, Inc. (NASDAQ:PI)

Occudo Quantitative Strategies LP purchased a new position in Impinj, Inc. (NASDAQ:PI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,779 shares of the company’s stock, valued at approximately $404,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Asset Management One Co. Ltd. grew its holdings in shares of Impinj by 85.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company’s stock valued at $174,000 after buying an additional 542 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of Impinj by 92.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock valued at $20,454,000 after buying an additional 67,510 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Impinj by 7.0% during the fourth quarter. Victory Capital Management Inc. now owns 20,825 shares of the company’s stock valued at $3,025,000 after buying an additional 1,363 shares during the last quarter. KBC Group NV grew its holdings in shares of Impinj by 33.5% during the fourth quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after buying an additional 228 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Impinj during the fourth quarter valued at $40,100,000.

Insiders Place Their Bets

In related news, COO Hussein Mecklai sold 3,739 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the transaction, the chief operating officer now owns 70,347 shares in the company, valued at $6,950,987.07. This represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the transaction, the chief executive officer now owns 354,076 shares of the company’s stock, valued at approximately $34,975,627.28. This trade represents a 2.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,857 shares of company stock worth $1,665,290. Company insiders own 12.40% of the company’s stock.

Impinj Stock Performance

Shares of Impinj stock opened at $121.75 on Friday. The firm has a 50-day simple moving average of $87.10 and a two-hundred day simple moving average of $126.11. The company has a market cap of $3.53 billion, a P/E ratio of 89.52 and a beta of 1.64. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.12. The business had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Equities research analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PI. Cantor Fitzgerald reissued an “overweight” rating and set a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th. Piper Sandler lowered their price target on shares of Impinj from $140.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC lowered their price target on shares of Impinj from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group lowered their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average target price of $155.38.

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.