Corient Private Wealth LLC Sells 3,434 Shares of Impinj, Inc. (NASDAQ:PI)

Corient Private Wealth LLC decreased its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 56.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,652 shares of the company's stock after selling 3,434 shares during the period. Corient Private Wealth LLC's holdings in Impinj were worth $385,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PI. State Street Corp increased its stake in Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company's stock valued at $233,555,000 after acquiring an additional 220,776 shares during the period. Raymond James Financial Inc. acquired a new stake in Impinj during the fourth quarter valued at approximately $27,699,000. Principal Financial Group Inc. grew its stake in shares of Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company's stock valued at $27,202,000 after purchasing an additional 122,579 shares during the period. Wellington Management Group LLP bought a new stake in shares of Impinj in the 3rd quarter valued at approximately $24,771,000. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Impinj by 92.1% in the 4th quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company's stock worth $20,454,000 after buying an additional 67,510 shares in the last quarter.

Analyst Upgrades and Downgrades

PI has been the topic of several recent analyst reports. StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Cantor Fitzgerald upgraded shares of Impinj to a "strong-buy" rating in a research note on Thursday, February 27th. Susquehanna lowered their target price on shares of Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a report on Wednesday, January 22nd. Piper Sandler cut their price target on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Finally, Needham & Company LLC decreased their price objective on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $183.44.

Impinj Price Performance

Shares of PI stock traded down $17.51 during trading hours on Thursday, reaching $73.55. 1,341,814 shares of the company were exchanged, compared to its average volume of 551,355. Impinj, Inc. has a fifty-two week low of $73.13 and a fifty-two week high of $239.88. The stock's fifty day moving average is $101.44 and its two-hundred day moving average is $154.38. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 54.08 and a beta of 1.74.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data 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%. On average, research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other Impinj news, CRO Jeffrey Dossett sold 378 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $141.05, for a total transaction of $53,316.90. Following the transaction, the executive now owns 67,052 shares in the company, valued at approximately $9,457,684.60. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Cary Baker sold 290 shares of the business's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $140.96, for a total value of $40,878.40. Following the transaction, the chief financial officer now owns 71,754 shares of the company's stock, valued at $10,114,443.84. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock worth $1,925,748 over the last three months. 51.00% of the stock is currently 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.