Blueshift Asset Management LLC Makes New Investment in Impinj, Inc. (NASDAQ:PI)

Blueshift Asset Management LLC bought a new stake in Impinj, Inc. (NASDAQ:PI - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 3,474 shares of the company's stock, valued at approximately $505,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in Impinj by 1.5% during the third quarter. FMR LLC now owns 4,217,403 shares of the company's stock worth $913,152,000 after buying an additional 60,461 shares during the last quarter. State Street Corp increased its position in shares of Impinj by 25.7% during the third 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Impinj by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company's stock worth $117,576,000 after acquiring an additional 7,676 shares during the last quarter. Jennison Associates LLC lifted its position in Impinj by 15.0% in the 3rd quarter. Jennison Associates LLC now owns 239,140 shares of the company's stock valued at $51,779,000 after acquiring an additional 31,269 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Impinj by 10.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company's stock valued at $30,998,000 after purchasing an additional 20,158 shares during the last quarter.

Wall Street Analysts Forecast Growth

PI has been the subject of several analyst reports. 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. Cantor Fitzgerald raised Impinj to a "strong-buy" rating in a research report on Thursday, February 27th. Needham & Company LLC cut their price objective on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. StockNews.com lowered shares of Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Finally, Piper Sandler cut their price target on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $183.44.

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Impinj Stock Up 0.5 %

NASDAQ PI traded up $0.48 during trading hours on Tuesday, reaching $91.62. 330,246 shares of the company were exchanged, compared to its average volume of 528,223. The stock has a market capitalization of $2.61 billion, a P/E ratio of 67.37 and a beta of 1.98. Impinj, Inc. has a 1 year low of $84.17 and a 1 year high of $239.88. The business's 50 day simple moving average is $109.21 and its 200-day simple moving average is $159.00.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (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 anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Chris Ph.D. Diorio sold 8,334 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the transaction, the chief executive officer now owns 354,076 shares of the company's stock, valued at approximately $34,975,627.28. The trade was a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cathal G. Phelan sold 565 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the transaction, the insider now directly owns 7,925 shares of the company's stock, valued at approximately $782,752.25. The trade was a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,704 shares of company stock valued at $1,925,748 over the last ninety days. 51.00% of the stock is currently owned by insiders.

Impinj 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.