Harbor Capital Advisors Inc. Sells 9,316 Shares of Impinj, Inc. (NASDAQ:PI)

Harbor Capital Advisors Inc. lessened its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 68.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,217 shares of the company's stock after selling 9,316 shares during the period. Harbor Capital Advisors Inc.'s holdings in Impinj were worth $913,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Impinj by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company's stock valued at $7,990,000 after acquiring an additional 7,247 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Impinj during the first quarter worth $513,000. TimesSquare Capital Management LLC acquired a new position in shares of Impinj in the 1st quarter valued at $19,195,000. Swiss National Bank increased its position in shares of Impinj by 0.9% in the 1st quarter. Swiss National Bank now owns 45,400 shares of the company's stock valued at $5,830,000 after buying an additional 400 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Impinj by 8.5% during the first quarter. ProShare Advisors LLC now owns 4,194 shares of the company's stock worth $539,000 after acquiring an additional 330 shares in the last quarter.

Impinj Stock Up 2.5 %

Shares of PI stock traded up $4.96 during trading on Thursday, reaching $202.99. The company's stock had a trading volume of 682,618 shares, compared to its average volume of 472,689. Impinj, Inc. has a one year low of $67.37 and a one year high of $239.88. The business has a fifty day moving average price of $202.60 and a 200-day moving average price of $173.70. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 228.08 and a beta of 1.81.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. The firm had revenue of $95.20 million for the quarter, compared to analysts' expectations of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company's revenue for the quarter was up 46.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.36) EPS. Research analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PI. Piper Sandler restated an "overweight" rating and issued a $235.00 price target (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. Lake Street Capital raised their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Roth Mkm upped their price target on shares of Impinj from $145.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, July 25th. Finally, Evercore ISI restated an "outperform" rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Impinj currently has a consensus rating of "Moderate Buy" and an average target price of $224.60.

Insider Buying and Selling at Impinj

In other news, major shareholder Sylebra Capital Llc sold 89,809 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $201.78, for a total transaction of $18,121,660.02. Following the sale, the insider now owns 2,607,543 shares in the company, valued at $526,150,026.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the transaction, the insider now owns 17,647 shares in the company, valued at approximately $3,690,870.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 89,809 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $201.78, for a total value of $18,121,660.02. Following the completion of the sale, the insider now owns 2,607,543 shares in the company, valued at $526,150,026.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,136 shares of company stock worth $60,943,143 over the last ninety days. 51.00% of the stock is currently owned by corporate 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.