Formula Growth Ltd. Takes $1.36 Million Position in Impinj, Inc. $PI

Formula Growth Ltd. acquired a new position in shares of Impinj, Inc. (NASDAQ:PI) in the second quarter, HoldingsChannel reports. The fund acquired 9,500 shares of the company’s stock, valued at approximately $1,361,000.

Several other large investors have also made changes to their positions in the company. Western Wealth Management LLC acquired a new position in Impinj in the first quarter valued at $28,000. Global Retirement Partners LLC acquired a new stake in Impinj during the second quarter worth about $31,000. Danske Bank A S acquired a new stake in Impinj during the fourth quarter worth about $35,000. Bamco Inc. NY purchased a new position in shares of Impinj in the 2nd quarter worth about $45,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Impinj by 39.9% in the 1st quarter. Advisors Asset Management Inc. now owns 491 shares of the company’s stock worth $45,000 after purchasing an additional 140 shares during the period.

Insider Activity

In related news, Director Sylebra Capital Llc sold 12,105 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $127.36, for a total transaction of $1,541,692.80. Following the transaction, the director directly owned 782,943 shares of the company’s stock, valued at approximately $99,715,620.48. The trade was a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Cary Baker sold 1,429 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $185.00, for a total transaction of $264,365.00. Following the transaction, the chief financial officer directly owned 88,226 shares in the company, valued at approximately $16,321,810. The trade was a 1.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 192,153 shares of company stock worth $25,561,723. Company insiders own 6.80% of the company’s stock.

Impinj Trading Up 5.5%

NASDAQ:PI opened at $168.07 on Friday. The business’s 50-day moving average is $149.94 and its two-hundred day moving average is $131.21. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.28 and a quick ratio of 2.29. Impinj, Inc. has a 12 month low of $87.36 and a 12 month high of $247.06. The firm has a market capitalization of $5.13 billion, a PE ratio of -182.68 and a beta of 1.94.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, July 29th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. Impinj had a positive return on equity of 5.23% and a negative net margin of 7.26%.The company had revenue of $108.37 million during the quarter, compared to the consensus estimate of $104.60 million. During the same quarter in the prior year, the business earned $0.80 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Impinj has set its Q3 2026 guidance at 0.590-0.630 EPS. Research analysts predict that Impinj, Inc. will post 0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PI has been the topic of several research analyst reports. Jefferies Financial Group lifted their price objective on Impinj from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Zacks Research raised shares of Impinj from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Impinj from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Evercore set a $144.00 price target on shares of Impinj in a research report on Thursday, April 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of Impinj in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Impinj has an average rating of “Moderate Buy” and a consensus target price of $183.30.

Impinj Company Profile

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj’s platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj’s product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).