California State Teachers Retirement System Has $1.55 Million Position in Impinj, Inc. (PI)

California State Teachers Retirement System lifted its position in Impinj, Inc. (NASDAQ:PI) by 157.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,900 shares of the company’s stock after buying an additional 19,500 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Impinj worth $1,552,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in shares of Impinj by 165.6% in the second quarter. The Manufacturers Life Insurance Company now owns 14,041 shares of the company’s stock valued at $683,000 after buying an additional 8,754 shares in the last quarter. State Street Corp grew its stake in shares of Impinj by 207.6% in the second quarter. State Street Corp now owns 303,827 shares of the company’s stock valued at $14,781,000 after buying an additional 205,050 shares in the last quarter. Columbia Pacific Advisors LLC bought a new position in shares of Impinj in the second quarter valued at $243,000. Macquarie Group Ltd. grew its stake in shares of Impinj by 21.6% in the second quarter. Macquarie Group Ltd. now owns 79,408 shares of the company’s stock valued at $3,863,000 after buying an additional 14,106 shares in the last quarter. Finally, Fred Alger Management Inc. bought a new position in shares of Impinj in the second quarter valued at $1,784,000. 75.40% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $38.00, for a total value of $342,000.00. Following the transaction, the chief financial officer now owns 15,300 shares in the company, valued at $581,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clinton Bybee purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average price of $24.43 per share, for a total transaction of $97,720.00. Following the transaction, the director now directly owns 4,417 shares of the company’s stock, valued at approximately $107,907.31. The disclosure for this purchase can be found here. Insiders have sold 37,000 shares of company stock valued at $1,392,420 in the last three months. Insiders own 15.20% of the company’s stock.

Several brokerages have issued reports on PI. KeyCorp reaffirmed a “hold” rating on shares of Impinj in a report on Friday, November 3rd. BidaskClub downgraded Impinj from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target (down previously from $45.00) on shares of Impinj in a report on Thursday, November 2nd. Dougherty & Co cut their price target on Impinj from $62.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, November 2nd. Finally, Morgan Stanley cut their price target on Impinj from $37.00 to $29.00 and set an “equal weight” rating for the company in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $36.67.

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Shares of Impinj, Inc. (NASDAQ PI) opened at $25.31 on Friday. Impinj, Inc. has a twelve month low of $19.97 and a twelve month high of $60.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.97 and a current ratio of 7.49.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.04). Impinj had a negative return on equity of 1.15% and a negative net margin of 5.97%. The firm had revenue of $32.60 million for the quarter, compared to analyst estimates of $32.58 million. During the same period in the prior year, the business posted $0.10 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. sell-side analysts predict that Impinj, Inc. will post -0.31 earnings per share for the current fiscal year.

Impinj Profile

Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.

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Institutional Ownership by Quarter for Impinj (NASDAQ:PI)

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