76,194 Shares in Impinj, Inc. (NASDAQ:PI) Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership purchased a new position in Impinj, Inc. (NASDAQ:PI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 76,194 shares of the company's stock, valued at approximately $11,068,000. Arrowstreet Capital Limited Partnership owned approximately 0.27% of Impinj as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hillsdale Investment Management Inc. grew its position in shares of Impinj by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company's stock worth $3,586,000 after purchasing an additional 95 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Impinj by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock worth $1,612,000 after purchasing an additional 100 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Impinj during the third quarter worth about $30,000. 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 purchasing an additional 158 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of Impinj by 2.4% during the fourth quarter. Arizona State Retirement System now owns 6,945 shares of the company's stock worth $1,009,000 after purchasing an additional 160 shares in the last quarter.

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Insiders Place Their Bets

In other news, insider Cathal G. Phelan sold 565 shares of Impinj stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the transaction, the insider now directly owns 7,925 shares in the company, valued at approximately $782,752.25. This trade represents a 6.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Cary Baker sold 1,553 shares of Impinj stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now owns 76,451 shares in the company, valued at $7,550,300.76. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,704 shares of company stock worth $1,925,748 in the last ninety days. 51.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. 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 note on Thursday, February 6th. Needham & Company LLC dropped their price target on Impinj from $182.00 to $130.00 and set a "buy" 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, The Goldman Sachs Group lowered their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $183.44.

Impinj Trading Down 10.3 %

Shares of PI stock traded down $7.98 on Thursday, reaching $69.26. 177,702 shares of the company's stock were exchanged, compared to its average volume of 710,082. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88. The stock has a market capitalization of $1.98 billion, a PE ratio of 50.93 and a beta of 1.74. The company's fifty day simple moving average is $94.18 and its 200 day simple moving average is $149.12.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data 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%. As a group, sell-side analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

About Impinj

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.