UBS Asset Management Americas Inc. Acquires 562,673 Shares of Impinj, Inc. (NASDAQ:PI)

Posted by Defense World Staff on Mar 13th, 2023

UBS Asset Management Americas Inc. increased its holdings in shares of Impinj, Inc. (NASDAQ:PI – Get Rating) by 2,886.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 582,168 shares of the company’s stock after acquiring an additional 562,673 shares during the period. UBS Asset Management Americas Inc. owned about 2.25% of Impinj worth $46,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PI. Russell Investments Group Ltd. bought a new position in shares of Impinj in the 3rd quarter worth $1,372,000. Jump Financial LLC bought a new position in shares of Impinj in the 3rd quarter worth $1,928,000. Verition Fund Management LLC raised its position 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 worth $19,493,000 after acquiring an additional 110,262 shares in the last quarter. Essex Investment Management Co. LLC raised its position in shares of Impinj by 3.5% in the 2nd quarter. Essex Investment Management Co. LLC now owns 44,058 shares of the company’s stock worth $2,585,000 after acquiring an additional 1,491 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Impinj by 101.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 450,844 shares of the company’s stock worth $36,081,000 after acquiring an additional 226,794 shares in the last quarter. 97.32% of the stock is owned by institutional investors.

Impinj Trading Down 5.2 %

Shares of PI stock opened at $127.00 on Monday. The business has a 50-day simple moving average of $126.13 and a 200-day simple moving average of $109.51. The company has a debt-to-equity ratio of 17.97, a current ratio of 6.49 and a quick ratio of 5.40. Impinj, Inc. has a 52-week low of $39.74 and a 52-week high of $144.90.

Impinj (NASDAQ:PI – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $76.59 million during the quarter, compared to analysts’ expectations of $76.20 million. Impinj had a negative return on equity of 62,026.59% and a negative net margin of 9.43%. Research analysts predict that Impinj, Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler boosted 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. Jefferies Financial Group boosted their target price on Impinj from $112.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, January 12th. Canaccord Genuity Group boosted their target price on Impinj from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. TheStreet upgraded Impinj from a “d” rating to a “c-” rating in a research note on Wednesday, February 8th. Finally, The Goldman Sachs Group boosted their target price on Impinj from $111.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, February 10th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat, Impinj has a consensus rating of “Moderate Buy” and an average target price of $129.75.

Insider Buying and Selling

In other Impinj news, CRO Jeffrey Dossett sold 3,500 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $133.12, for a total transaction of $465,920.00. Following the completion of the transaction, the executive now owns 48,283 shares of the company’s stock, valued at $6,427,432.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Sylebra Capital Ltd purchased 31,769 shares of the company’s stock in a transaction dated Monday, February 13th. The stock was acquired at an average cost of $126.78 per share, for a total transaction of $4,027,673.82. Following the completion of the transaction, the insider now directly owns 2,808,085 shares of the company’s stock, valued at $356,009,016.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $133.12, for a total value of $465,920.00. Following the completion of the sale, the executive now owns 48,283 shares of the company’s stock, valued at $6,427,432.96. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 88,397 shares of company stock valued at $10,952,581 and sold 65,516 shares valued at $8,172,645. 20.20% of the stock is currently owned by insiders.

Impinj Profile

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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.