Geode Capital Management LLC Purchases 3,899 Shares of Impinj, Inc. (NASDAQ:PI)

Geode Capital Management LLC increased its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 546,823 shares of the company's stock after purchasing an additional 3,899 shares during the quarter. Geode Capital Management LLC owned approximately 1.93% of Impinj worth $79,654,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PI. Hillsdale Investment Management Inc. lifted its holdings in shares of Impinj by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company's stock valued at $3,586,000 after buying an additional 95 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Impinj by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock valued at $1,612,000 after acquiring an additional 100 shares in the last quarter. National Bank of Canada FI acquired a new stake in Impinj in the third quarter valued at approximately $30,000. Xponance Inc. grew its position in Impinj by 10.5% in the fourth quarter. Xponance Inc. now owns 1,660 shares of the company's stock worth $241,000 after acquiring an additional 158 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Impinj by 2.4% during the 4th quarter. Arizona State Retirement System now owns 6,945 shares of the company's stock worth $1,009,000 after purchasing an additional 160 shares during the last quarter.

Impinj Price Performance

PI stock traded down $2.87 on Wednesday, reaching $63.51. 281,507 shares of the company were exchanged, compared to its average volume of 578,048. The firm has a market capitalization of $1.81 billion, a PE ratio of 46.70 and a beta of 1.74. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The stock's fifty day moving average price is $89.85 and its 200 day moving average price is $145.02.

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

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the company's stock in a transaction that occurred 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 directly owns 354,076 shares in the company, valued at approximately $34,975,627.28. This represents a 2.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Jeffrey Dossett sold 2,666 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $263,427.46. Following the transaction, the executive now owns 71,886 shares of the company's stock, valued at $7,103,055.66. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,857 shares of company stock worth $1,665,290. Company insiders own 51.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PI shares. Susquehanna reduced their price objective on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research note on Wednesday, January 22nd. The Goldman Sachs Group reduced their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Needham & Company LLC cut their price objective on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Finally, Piper Sandler reduced their price objective on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Impinj presently has an average rating of "Moderate Buy" and a consensus target price of $183.44.

Impinj Company 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.