EFG Asset Management North America Corp. Acquires 4,467 Shares of Impinj, Inc. (NASDAQ:PI)

EFG Asset Management North America Corp. boosted its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 30.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,084 shares of the company's stock after purchasing an additional 4,467 shares during the quarter. EFG Asset Management North America Corp. owned 0.07% of Impinj worth $2,771,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PI. Nordea Investment Management AB acquired a new stake in shares of Impinj during the 4th quarter worth approximately $3,341,000. Teachers Retirement System of The State of Kentucky bought a new position in Impinj in the third quarter worth $846,000. Intech Investment Management LLC acquired a new stake in Impinj during the third quarter worth $1,437,000. Mutual of America Capital Management LLC bought a new stake in Impinj in the 3rd quarter valued at $742,000. Finally, Geode Capital Management LLC raised its stake in shares of Impinj by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company's stock valued at $117,576,000 after buying an additional 7,676 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Needham & Company LLC decreased their price objective on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Susquehanna lowered their price objective on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research note on Wednesday, January 22nd. Piper Sandler cut their target price on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald upgraded Impinj to a "strong-buy" rating in a research report on Thursday, February 27th. One investment 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $183.44.

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Impinj Trading Down 1.1 %

Shares of PI traded down $1.06 during trading hours on Friday, hitting $91.80. 436,152 shares of the stock traded hands, compared to its average volume of 543,695. The firm has a market capitalization of $2.62 billion, a PE ratio of 67.50 and a beta of 1.98. Impinj, Inc. has a 1-year low of $84.17 and a 1-year high of $239.88. The business has a fifty day moving average of $105.55 and a 200-day moving average of $156.90.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (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, equities research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Impinj

In other Impinj news, CFO Cary Baker sold 290 shares of Impinj stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $140.96, for a total value of $40,878.40. Following the sale, the chief financial officer now owns 71,754 shares of the company's stock, valued at $10,114,443.84. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Jeffrey Dossett sold 378 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.05, for a total value of $53,316.90. Following the completion of the sale, the executive now owns 67,052 shares in the company, valued at approximately $9,457,684.60. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,704 shares of company stock worth $1,925,748. 51.00% of the stock is currently owned by company insiders.

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.