8,564 Shares in Impinj, Inc. (NASDAQ:PI) Purchased by Magnetar Financial LLC

Magnetar Financial LLC bought a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,564 shares of the company's stock, valued at approximately $1,244,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Xponance Inc. grew its position in shares of Impinj by 10.5% during the fourth quarter. Xponance Inc. now owns 1,660 shares of the company's stock worth $241,000 after buying an additional 158 shares in the last quarter. Intech Investment Management LLC grew its holdings in Impinj by 94.3% during the 4th quarter. Intech Investment Management LLC now owns 12,896 shares of the company's stock worth $1,873,000 after acquiring an additional 6,260 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Impinj by 464.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 100,991 shares of the company's stock worth $14,670,000 after purchasing an additional 83,107 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Impinj in the 4th quarter valued at about $312,000. Finally, Royce & Associates LP lifted its position in shares of Impinj by 5.3% during the fourth quarter. Royce & Associates LP now owns 208,864 shares of the company's stock worth $30,340,000 after purchasing an additional 10,594 shares during the last quarter.

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the transaction, the chief executive officer now directly owns 354,076 shares of the company's stock, valued at $34,975,627.28. This trade represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Cary Baker sold 290 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $140.96, for a total transaction of $40,878.40. Following the completion of the sale, the chief financial officer now owns 71,754 shares of the company's stock, valued at approximately $10,114,443.84. This trade represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,704 shares of company stock worth $1,925,748. Insiders own 51.00% of the company's stock.

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Impinj Stock Up 0.5 %

NASDAQ PI traded up $0.48 on Tuesday, hitting $91.62. The stock had a trading volume of 330,246 shares, compared to its average volume of 528,223. The company's 50-day moving average is $109.21 and its two-hundred day moving average is $159.00. Impinj, Inc. has a one year low of $84.17 and a one year high of $239.88. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 67.37 and a beta of 1.98.

Impinj (NASDAQ:PI - Get Free Report) last posted its 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%. On average, sell-side analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PI shares. Needham & Company LLC cut their price objective on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Susquehanna reduced their price objective on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research note on Wednesday, January 22nd. Piper Sandler lowered their target price on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group dropped their target price on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $183.44.

Impinj Company Profile

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.