Federated Hermes Inc. Acquires 141,554 Shares of Impinj, Inc. (NASDAQ:PI)

Federated Hermes Inc. grew its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 272.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 193,480 shares of the company's stock after acquiring an additional 141,554 shares during the period. Federated Hermes Inc. owned 0.68% of Impinj worth $28,105,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp lifted its position in shares of Impinj by 25.7% during the 3rd 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. Wellington Management Group LLP acquired a new stake in shares of Impinj in the 3rd quarter valued at about $24,771,000. EP Wealth Advisors LLC bought a new stake in Impinj in the 3rd quarter valued at about $294,000. National Bank of Canada FI acquired a new position in Impinj during the 3rd quarter worth approximately $30,000. Finally, Geode Capital Management LLC boosted its holdings in Impinj by 1.4% in the third 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 in the last quarter.

Impinj Stock Up 1.1 %

PI stock traded up $0.73 during midday trading on Monday, hitting $67.50. The company's stock had a trading volume of 52,993 shares, compared to its average volume of 575,970. The stock's 50-day moving average price is $91.86 and its 200 day moving average price is $146.58. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 49.63 and a beta of 1.74. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88.

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Impinj (NASDAQ:PI - Get Free Report) last announced 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, equities analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Susquehanna cut their target price on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a report on Wednesday, January 22nd. Cantor Fitzgerald raised shares of Impinj to a "strong-buy" rating in a research note on Thursday, February 27th. Needham & Company LLC reduced their price objective on shares of Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Piper Sandler lowered their target price 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. Finally, StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $183.44.

Insider Buying and Selling at Impinj

In other Impinj news, CFO Cary Baker sold 1,553 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the sale, the chief financial officer now owns 76,451 shares of the company's stock, valued at $7,550,300.76. The trade was a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.78, for a total value of $823,232.52. Following the sale, the chief executive officer now owns 354,076 shares in the company, valued at approximately $34,975,627.28. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,857 shares of company stock valued at $1,665,290. Company insiders own 51.00% of the company's stock.

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.