Wellington Management Group LLP Makes New Investment in Impinj, Inc. (NASDAQ:PI)

Wellington Management Group LLP acquired a new position in shares of Impinj, Inc. (NASDAQ:PI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 114,407 shares of the company’s stock, valued at approximately $24,771,000. Wellington Management Group LLP owned about 0.40% of Impinj as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PI. FMR LLC grew its position in shares of Impinj by 1.5% in the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after acquiring an additional 60,461 shares in the last quarter. State Street Corp grew its position in shares of Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after acquiring an additional 220,776 shares in the last quarter. Jennison Associates LLC grew its position in shares of Impinj by 15.0% in the 3rd quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after acquiring an additional 31,269 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Impinj by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock worth $41,840,000 after acquiring an additional 6,232 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Impinj in the 2nd quarter worth approximately $30,116,000.

Insider Transactions at Impinj

In other news, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total transaction of $43,712.35. Following the transaction, the insider now owns 17,647 shares in the company, valued at approximately $3,690,870.05. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Sylebra Capital Llc sold 32,031 shares of Impinj stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $195.35, for a total value of $6,257,255.85. Following the transaction, the insider now owns 3,021,548 shares in the company, valued at $590,259,401.80. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 655,674 shares of company stock valued at $131,623,305 over the last three months. Company insiders own 51.00% of the company’s stock.

Impinj Stock Performance

PI opened at $150.98 on Friday. Impinj, Inc. has a one year low of $78.17 and a one year high of $239.88. The stock’s fifty day moving average is $198.32 and its 200-day moving average is $177.86. The company has a market capitalization of $4.27 billion, a PE ratio of 169.64 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 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 for the quarter, compared to the consensus estimate of $92.86 million. During the same quarter in the previous year, the business earned ($0.36) EPS. The company’s quarterly revenue was up 46.5% compared to the same quarter last year. On average, equities research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PI has been the subject of several research reports. Needham & Company LLC lifted their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Lake Street Capital boosted their price objective on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Evercore ISI restated an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald boosted their price objective on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $224.60.

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.