Intech Investment Management LLC Raises Stake in Impinj, Inc. (NASDAQ:PI)

Intech Investment Management LLC lifted its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 94.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,896 shares of the company's stock after purchasing an additional 6,260 shares during the period. Intech Investment Management LLC's holdings in Impinj were worth $1,873,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PI. National Bank of Canada FI acquired a new position in shares of Impinj during the third quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new position in Impinj during the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp boosted its holdings in 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 acquiring an additional 175 shares in the last quarter. IFP Advisors Inc grew its stake in Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company's stock valued at $53,000 after acquiring an additional 198 shares during the period. Finally, Spire Wealth Management bought a new stake in shares of Impinj during the fourth quarter valued at approximately $87,000.

Impinj Price Performance

Shares of Impinj stock traded up $0.48 during trading hours on Tuesday, hitting $91.62. 330,246 shares of the company's stock traded hands, compared to its average volume of 528,223. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 67.37 and a beta of 1.98. Impinj, Inc. has a 12-month low of $84.17 and a 12-month high of $239.88. The company has a fifty day simple moving average of $109.21 and a 200-day simple moving average of $159.00.

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Impinj (NASDAQ:PI - Get Free Report) last posted 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 return on equity of 7.11% and a net margin of 11.15%. On average, analysts forecast that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Insider Transactions at Impinj

In other news, insider Cathal G. Phelan sold 565 shares of Impinj stock in a transaction dated Friday, February 21st. The shares were 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 $782,752.25. This trade represents a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Cary Baker sold 290 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $140.96, for a total transaction of $40,878.40. Following the sale, the chief financial officer now owns 71,754 shares in the company, valued at $10,114,443.84. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock worth $1,925,748 in the last quarter. Insiders own 51.00% of the company's stock.

Wall Street Analysts Forecast Growth

PI has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company 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. Piper Sandler decreased their price target on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Needham & Company LLC dropped 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. Finally, Cantor Fitzgerald raised shares of Impinj to a "strong-buy" rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $183.44.

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.