Toronado Partners LLC Buys 24,219 Shares of Impinj, Inc. (NASDAQ:PI)

Toronado Partners LLC lifted its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 36.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,668 shares of the company's stock after purchasing an additional 24,219 shares during the period. Impinj comprises about 8.3% of Toronado Partners LLC's holdings, making the stock its 8th largest holding. Toronado Partners LLC owned about 0.32% of Impinj worth $13,170,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Hillsdale Investment Management Inc. lifted its position in Impinj by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company's stock valued at $3,586,000 after acquiring an additional 95 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Impinj by 0.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock valued at $1,612,000 after purchasing an additional 100 shares during the last quarter. National Bank of Canada FI purchased a new position in Impinj during the 3rd quarter worth approximately $30,000. Cynosure Group LLC increased its position in Impinj by 7.8% during the fourth quarter. Cynosure Group LLC now owns 1,953 shares of the company's stock worth $284,000 after buying an additional 142 shares during the period. Finally, Xponance Inc. lifted its stake in Impinj by 10.5% in the fourth quarter. Xponance Inc. now owns 1,660 shares of the company's stock valued at $241,000 after buying an additional 158 shares during the last quarter.

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Analysts Set New Price Targets

A number of research firms recently issued reports on PI. The Goldman Sachs Group lowered their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. StockNews.com cut shares of 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 cut their price target on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a report on Wednesday, January 22nd. Finally, Needham & Company LLC cut their target price on Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Impinj has an average rating of "Moderate Buy" and a consensus price target of $183.44.

Impinj Stock Performance

Impinj stock traded down $0.35 during trading on Wednesday, hitting $66.03. The company's stock had a trading volume of 721,905 shares, compared to its average volume of 579,653. The stock's fifty day moving average is $89.85 and its 200 day moving average is $145.02. Impinj, Inc. has a 1-year low of $60.85 and a 1-year high of $239.88. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 48.55 and a beta of 1.74.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share 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 EPS for the current fiscal year.

Insider Activity

In other news, CFO Cary Baker sold 1,553 shares of Impinj stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.76, for a total transaction of $153,374.28. Following the sale, the chief financial officer now directly owns 76,451 shares of the company's stock, valued at approximately $7,550,300.76. The trade was a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 565 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the transaction, the insider now owns 7,925 shares in the company, valued at approximately $782,752.25. This trade represents a 6.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,857 shares of company stock valued at $1,665,290 in the last three months. Corporate insiders own 51.00% of the company's stock.

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.