Alliancebernstein L.P. Has $70.32 Million Position in Impinj, Inc. (NASDAQ:PI)

Alliancebernstein L.P. lessened its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 29.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 484,110 shares of the company's stock after selling 204,942 shares during the quarter. Alliancebernstein L.P. owned approximately 1.71% of Impinj worth $70,322,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in Impinj by 7.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,736 shares of the company's stock valued at $2,974,000 after purchasing an additional 983 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Impinj by 5.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,406 shares of the company's stock valued at $1,171,000 after acquiring an additional 262 shares during the period. Captrust Financial Advisors grew its position in shares of Impinj by 2.2% during the third quarter. Captrust Financial Advisors now owns 13,170 shares of the company's stock worth $2,852,000 after acquiring an additional 284 shares during the last quarter. State Street Corp increased its holdings in shares of Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company's stock worth $233,555,000 after acquiring an additional 220,776 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in shares of Impinj by 8.9% in the 3rd quarter. Two Sigma Advisers LP now owns 168,200 shares of the company's stock worth $36,419,000 after acquiring an additional 13,800 shares during the period.

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Analyst Ratings Changes

Several research analysts have commented on PI shares. Susquehanna decreased their target price on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research report on Wednesday, January 22nd. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. The Goldman Sachs Group cut their target price on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Cantor Fitzgerald raised Impinj to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC dropped their target price on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned 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 an average price target of $183.44.

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 841 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.02, for a total transaction of $118,597.82. Following the transaction, the chief executive officer now owns 333,856 shares in the company, valued at approximately $47,080,373.12. The trade was a 0.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Jeffrey Dossett sold 2,666 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $263,427.46. Following the completion of the sale, the executive now owns 71,886 shares of the company's stock, valued at approximately $7,103,055.66. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,704 shares of company stock valued at $1,925,748. Insiders own 51.00% of the company's stock.

Impinj Price Performance

PI traded up $1.14 during trading on Tuesday, reaching $70.77. 190,276 shares of the stock traded hands, compared to its average volume of 557,686. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 51.58 and a beta of 1.74. Impinj, Inc. has a fifty-two week low of $67.31 and a fifty-two week high of $239.88. The stock's 50-day simple moving average is $98.97 and its two-hundred day simple moving average is $152.14.

Impinj (NASDAQ:PI - Get Free Report) last announced 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 return on equity of 7.11% and a net margin of 11.15%. Research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

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.