Teachers Retirement System of The State of Kentucky Invests $846,000 in Impinj, Inc. (NASDAQ:PI)

Teachers Retirement System of The State of Kentucky acquired a new stake in Impinj, Inc. (NASDAQ:PI) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 3,906 shares of the company’s stock, valued at approximately $846,000.

Other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Impinj during the second quarter valued at about $566,000. Raymond James & Associates raised its position in Impinj by 30.2% in the second quarter. Raymond James & Associates now owns 18,861 shares of the company’s stock valued at $2,957,000 after purchasing an additional 4,373 shares during the period. Bank of New York Mellon Corp lifted its stake in Impinj by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 121,159 shares of the company’s stock worth $18,994,000 after purchasing an additional 7,496 shares in the last quarter. K.J. Harrison & Partners Inc boosted its position in shares of Impinj by 102.6% during the second quarter. K.J. Harrison & Partners Inc now owns 23,700 shares of the company’s stock worth $3,715,000 after buying an additional 12,000 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in shares of Impinj by 79.1% in the second quarter. Panagora Asset Management Inc. now owns 66,361 shares of the company’s stock valued at $10,403,000 after buying an additional 29,299 shares in the last quarter.

Impinj Trading Down 4.2 %

Impinj stock opened at $141.81 on Thursday. The stock has a market cap of $4.01 billion, a P/E ratio of 159.34 and a beta of 1.80. The company has a fifty day simple moving average of $192.37 and a 200-day simple moving average of $177.56. Impinj, Inc. has a 12-month low of $78.17 and a 12-month high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same period in the previous year, the business earned ($0.36) EPS. Impinj’s revenue for the quarter was up 46.5% on a year-over-year basis. As a group, sell-side analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on PI. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Needham & Company LLC raised their price objective on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Piper Sandler restated an “overweight” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Lake Street Capital raised their price target on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Impinj presently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Insider Activity at Impinj

In other news, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00. Following the completion of the sale, the executive now directly owns 65,294 shares of the company’s stock, valued at approximately $11,829,313.98. This represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the insider now directly owns 17,647 shares in the company, valued at $3,690,870.05. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 655,674 shares of company stock valued at $131,623,305 over the last three months. 51.00% of the stock is owned by corporate insiders.

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.