Capital International Investors Buys 473,721 Shares of Impinj, Inc. (NASDAQ:PI)

Capital International Investors boosted its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 45.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,527,587 shares of the company's stock after buying an additional 473,721 shares during the period. Capital International Investors owned approximately 5.40% of Impinj worth $221,897,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Impinj during the third quarter worth approximately $1,749,000. Principal Financial Group Inc. boosted its position in Impinj by 4,013.7% during 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. Nordea Investment Management AB bought a new position in shares of Impinj during the fourth quarter valued at about $3,341,000. Diversified Trust Co increased its holdings in shares of Impinj by 11.9% in the fourth quarter. Diversified Trust Co now owns 2,251 shares of the company's stock worth $327,000 after buying an additional 240 shares during the period. Finally, Harbour Capital Advisors LLC grew its position in Impinj by 14.1% during the 4th quarter. Harbour Capital Advisors LLC now owns 3,445 shares of the company's stock worth $521,000 after acquiring an additional 425 shares during the last quarter.

Analysts Set New Price Targets

PI has been the topic of several recent analyst reports. Evercore ISI raised their target price on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday. Needham & Company LLC reduced their price target on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $133.00 price objective on shares of Impinj in a report on Thursday. Finally, The Goldman Sachs Group reduced their target price on 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 and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.

Impinj Stock Performance

Shares of NASDAQ:PI traded up $2.04 during midday trading on Friday, reaching $91.79. 230,627 shares of the company's stock traded hands, compared to its average volume of 744,830. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88. The stock has a 50 day moving average of $85.49 and a 200 day moving average of $138.66. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 67.90 and a beta of 1.74.

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 analysts' consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. Sell-side analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Impinj

In other Impinj news, insider Cathal G. Phelan sold 565 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 7,925 shares in the company, valued at approximately $782,752.25. This trade represents a 6.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $369,450.59. Following the transaction, the chief operating officer now owns 70,347 shares in the company, valued at approximately $6,950,987.07. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,857 shares of company stock valued at $1,665,290. 51.00% of the stock is owned by company 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.