abrdn plc purchased a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,350 shares of the company's stock, valued at approximately $1,221,000.
Other large investors have also made changes to their positions in the company. State Street Corp lifted its stake in Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company's stock valued at $233,555,000 after buying an additional 220,776 shares during the period. Principal Financial Group Inc. lifted its stake in Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company's stock valued at $27,202,000 after buying an additional 122,579 shares during the period. Wellington Management Group LLP acquired a new position in Impinj in the third quarter valued at about $24,771,000. FMR LLC lifted its stake in Impinj by 1.5% in the third quarter. FMR LLC now owns 4,217,403 shares of the company's stock valued at $913,152,000 after buying an additional 60,461 shares during the period. Finally, Telemark Asset Management LLC acquired a new position in Impinj in the third quarter valued at about $12,991,000.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Evercore ISI restated an "outperform" rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Lake Street Capital increased their price objective on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Needham & Company LLC decreased their price objective on Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Finally, Piper Sandler decreased their price objective on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $180.10.
Check Out Our Latest Stock Analysis on Impinj
Impinj Price Performance
Impinj stock traded up $0.28 during mid-day trading on Friday, reaching $103.82. 366,783 shares of the company were exchanged, compared to its average volume of 817,065. The company has a fifty day simple moving average of $138.85 and a 200-day simple moving average of $170.60. Impinj, Inc. has a 12 month low of $97.77 and a 12 month high of $239.88. The firm has a market cap of $2.94 billion, a PE ratio of 76.34 and a beta of 1.88.
Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.69% and a net margin of 11.15%. Sell-side analysts anticipate that Impinj, Inc. will post 1.05 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Cathal G. Phelan sold 210 shares of the business's stock in a transaction 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 in the company, valued at $1,019,352.74. The trade was a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Jeffrey Dossett sold 580 shares of Impinj stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $84,714.80. Following the transaction, the executive now directly owns 66,180 shares in the company, valued at $9,666,250.80. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,466 shares of company stock worth $789,298 in the last 90 days. Insiders own 51.00% of the company's stock.
Impinj Profile
(
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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