Impinj, Inc. (NASDAQ:PI) Shares Bought by Cubist Systematic Strategies LLC

Posted by on Mar 6th, 2023

Cubist Systematic Strategies LLC raised its holdings in shares of Impinj, Inc. (NASDAQ:PI – Get Rating) by 242.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,157 shares of the company’s stock after purchasing an additional 34,789 shares during the quarter. Cubist Systematic Strategies LLC owned 0.19% of Impinj worth $3,934,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PI. Renaissance Technologies LLC raised its position in shares of Impinj by 13.5% during the 3rd quarter. Renaissance Technologies LLC now owns 144,200 shares of the company’s stock valued at $11,540,000 after acquiring an additional 17,200 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Impinj by 82.7% in the 3rd quarter. Verition Fund Management LLC now owns 243,577 shares of the company’s stock valued at $19,493,000 after buying an additional 110,262 shares during the period. Ergoteles LLC bought a new stake in shares of Impinj during the 3rd quarter valued at about $1,078,000. Nuveen Asset Management LLC raised its stake in Impinj by 78.5% during the third quarter. Nuveen Asset Management LLC now owns 248,485 shares of the company’s stock worth $19,886,000 after acquiring an additional 109,306 shares during the period. Finally, Oberweis Asset Management Inc. lifted its holdings in Impinj by 23.1% in the third quarter. Oberweis Asset Management Inc. now owns 35,700 shares of the company’s stock worth $2,857,000 after acquiring an additional 6,700 shares during the last quarter. 97.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PI has been the topic of a number of research reports. Piper Sandler increased their price target on Impinj from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, January 27th. Canaccord Genuity Group raised their target price on Impinj from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. TheStreet raised shares of Impinj from a “d” rating to a “c-” rating in a report on Wednesday, February 8th. Jefferies Financial Group lifted their price target on Impinj from $112.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, January 12th. Finally, Needham & Company LLC increased their price objective on Impinj from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.75.

Insider Activity

In related news, major shareholder Sylebra Capital Ltd bought 31,769 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The shares were acquired at an average cost of $126.78 per share, for a total transaction of $4,027,673.82. Following the acquisition, the insider now directly owns 2,808,085 shares of the company’s stock, valued at approximately $356,009,016.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Sylebra Capital Ltd bought 31,769 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was bought at an average cost of $126.78 per share, for a total transaction of $4,027,673.82. Following the completion of the acquisition, the insider now directly owns 2,808,085 shares in the company, valued at approximately $356,009,016.30. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, COO Hussein Mecklai sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $133.09, for a total transaction of $33,272.50. Following the sale, the chief operating officer now owns 22,487 shares in the company, valued at approximately $2,992,794.83. The disclosure for this sale can be found here. In the last quarter, insiders acquired 88,397 shares of company stock worth $10,952,581 and sold 65,516 shares worth $8,172,645. Insiders own 20.20% of the company’s stock.

Impinj Trading Up 5.0 %

Shares of Impinj stock opened at $139.12 on Monday. The business has a fifty day simple moving average of $123.55 and a 200-day simple moving average of $108.09. Impinj, Inc. has a fifty-two week low of $39.74 and a fifty-two week high of $142.78. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -144.92, a price-to-earnings-growth ratio of 42.81 and a beta of 2.25. The company has a quick ratio of 5.40, a current ratio of 6.49 and a debt-to-equity ratio of 17.97.

About Impinj

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IImpinj, Inc engages in the development and sale of radio frequency identification solutions. The company was founded by Christopher Diorio in April 2000 and is headquartered in Seattle, WA.

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Institutional Ownership by Quarter for Impinj (NASDAQ:PI)

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