Top 5 Stocks to Buy Today According to Stephen Perkins’ Toronado Partners

In this article, we will discuss the top 5 stocks to buy today according to Stephen Perkins’ Toronado Partners. If you want to read our detailed analysis of Perkins’ history, investment philosophy, and hedge fund performance, go directly to the Top 10 Stocks to Buy Today According to Stephen Perkins’ Toronado Partners. 

5. Impinj, Inc. (NASDAQ: PI)

Perkins’ Stake Value: $35,323,000
Percentage of Stephen Perkins’ 13F Portfolio: 10.29%
Number of Hedge Fund Holders: 20

Impinj, Inc. (NASDAQ: PI) is a cloud connection platform provider. It was founded in 2000 and is placed fifth on the list of top 10 stocks to buy today according to Stephen Perkins’ Toronado Partners. Shares of Impinj, Inc. (NASDAQ: PI) are up 130.95% in the past 12 months.

On July 28, Impinj, Inc. (NASDAQ: PI) announced earnings for the second quarter of 2021. It posted earnings per share of $0.11, beating the market predictions by $0.15. Revenue over the period was $47.3 million, up 78.5% year over year, surpassing the estimates by $4.61 million. On July 29, Needham analyst James Ricchiuti lowered its price target on Impinj, Inc. (NASDAQ: PI) to $55 from $66 and kept a “Buy” rating on the shares. The analyst points out that while the business outperformed expectations in the second quarter, its third-quarter projection was in line with expectations, implying that it will continue to have wafer shortages that prohibit it from achieving customer demand, which continues to outstrip supply.

The hedge fund managed by Stephen Perkins owns 684,679 shares in Impinj, Inc. (NASDAQ: PI), worth over $35.32 million, representing 10.29% of their portfolio. Toronado Partners has increased its stake in the firm by 6% in the second quarter of 2021. Daniel Patrick Gibson’s Sylebra Capital Management is the biggest stakeholder in Impinj, Inc. (NASDAQ: PI) with 4.40 million shares, worth $226.86 million.