Illinois Municipal Retirement Fund bought a new position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,636 shares of the company's stock, valued at approximately $2,126,000. Illinois Municipal Retirement Fund owned approximately 0.05% of Impinj at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of PI. National Bank of Canada FI purchased a new stake in Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC boosted its stake in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock worth $33,000 after acquiring an additional 141 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after acquiring an additional 198 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Impinj in the 4th quarter worth approximately $87,000. Finally, Asset Management One Co. Ltd. purchased a new position in Impinj in the 3rd quarter valued at approximately $138,000.
Analyst Ratings Changes
PI has been the topic of a number of research reports. Susquehanna lowered their price objective on shares of Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research note on Wednesday, January 22nd. Cantor Fitzgerald upgraded shares of Impinj to a "strong-buy" rating in a research report on Thursday, February 27th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Needham & Company LLC reduced their target price on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Finally, Piper Sandler dropped their price target on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Impinj has an average rating of "Moderate Buy" and a consensus price target of $180.10.
View Our Latest Research Report on PI
Impinj Stock Up 5.4 %
Shares of NASDAQ:PI traded up $4.75 during midday trading on Tuesday, reaching $92.48. The company's stock had a trading volume of 428,882 shares, compared to its average volume of 517,499. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 68.13 and a beta of 1.88. The business has a 50 day moving average price of $125.75 and a 200 day moving average price of $166.47. Impinj, Inc. has a 1 year low of $84.50 and a 1 year high of $239.88.
Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Sell-side analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.
Insider Activity
In related news, CFO Cary Baker sold 499 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $72,883.94. Following the completion of the sale, the chief financial officer now owns 71,107 shares of the company's stock, valued at approximately $10,385,888.42. This represents a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 210 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the sale, the insider now owns 6,979 shares of the company's stock, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,323 shares of company stock valued at $2,454,588 in the last ninety days. Company insiders own 51.00% of the company's stock.
About Impinj
(
Free Report)
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.
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