Charles Schwab Investment Management Inc. Buys 20,158 Shares of Impinj, Inc. (NASDAQ:PI)

Charles Schwab Investment Management Inc. grew its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 213,398 shares of the company's stock after purchasing an additional 20,158 shares during the period. Charles Schwab Investment Management Inc. owned about 0.75% of Impinj worth $30,998,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Louisiana State Employees Retirement System grew 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 worth $1,612,000 after buying an additional 100 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Impinj during the 3rd quarter valued at $30,000. KBC Group NV grew its holdings in shares of Impinj by 29.7% during the 3rd quarter. KBC Group NV now owns 681 shares of the company's stock worth $147,000 after purchasing an additional 156 shares in the last quarter. First Bank & Trust grew its holdings in shares of Impinj by 9.5% during the 4th quarter. First Bank & Trust now owns 1,936 shares of the company's stock worth $281,000 after purchasing an additional 168 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after purchasing an additional 175 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler reduced their price objective on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group reduced their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC lowered their price objective on shares of Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald upgraded Impinj to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Susquehanna decreased their price target on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Impinj currently has a consensus rating of "Moderate Buy" and an average target price of $183.44.

Remove Ads

Impinj Price Performance

PI stock traded down $4.03 during midday trading on Thursday, reaching $90.03. 204,877 shares of the stock were exchanged, compared to its average volume of 524,617. Impinj, Inc. has a 52 week low of $84.17 and a 52 week high of $239.88. The company has a fifty day moving average price of $112.58 and a 200 day moving average price of $160.61. The stock has a market capitalization of $2.57 billion, a PE ratio of 66.25 and a beta of 1.98.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings results 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%. As a group, analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Activity

In other Impinj news, CEO Chris Ph.D. Diorio sold 8,334 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the sale, the chief executive officer now owns 354,076 shares of the company's stock, 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 can be accessed through this hyperlink. Also, CFO Cary Baker sold 499 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $72,883.94. Following the completion of the transaction, the chief financial officer now owns 71,107 shares in the company, valued at $10,385,888.42. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,323 shares of company stock valued at $2,454,588. 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.