Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 77.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,391 shares of the company's stock after buying an additional 27,300 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of Impinj worth $9,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nordea Investment Management AB acquired a new position in shares of Impinj in the fourth quarter valued at about $3,341,000. Thrivent Financial for Lutherans acquired a new stake in shares of Impinj in the third quarter worth $3,872,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Impinj during the third quarter worth $846,000. Intech Investment Management LLC acquired a new position in Impinj during the third quarter valued at $1,437,000. Finally, Mutual of America Capital Management LLC purchased a new stake in Impinj in the third quarter valued at $742,000.

Insider Buying and Selling

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the sale, the chief executive officer now owns 354,076 shares in the company, valued at $34,975,627.28. This trade represents a 2.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the completion of the transaction, the insider now owns 6,979 shares in the company, valued at $1,019,352.74. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,323 shares of company stock worth $2,454,588. 51.00% of the stock is owned by insiders.

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Impinj Trading Up 2.8 %

PI traded up $2.60 during midday trading on Wednesday, hitting $94.06. 527,182 shares of the company traded hands, compared to its average volume of 524,846. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 69.16 and a beta of 1.98. Impinj, Inc. has a 52-week low of $84.17 and a 52-week high of $239.88. The business has a 50 day simple moving average of $113.71 and a two-hundred day simple moving average of $161.08.

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 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%. Equities research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PI shares. 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. Susquehanna lowered their price objective on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. 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 report on Thursday, February 6th. Needham & Company LLC lowered their price target 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. Finally, Cantor Fitzgerald upgraded shares of Impinj to a "strong-buy" rating in a research report on Thursday, February 27th. One equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $183.44.

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.