Impinj, Inc. (NASDAQ:PI) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 4,013.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,633 shares of the company's stock after acquiring an additional 122,579 shares during the quarter. Principal Financial Group Inc. owned about 0.45% of Impinj worth $27,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PI. First Bank & Trust grew its position in shares of Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company's stock valued at $383,000 after purchasing an additional 55 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock valued at $33,000 after purchasing an additional 141 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company's stock valued at $432,000 after purchasing an additional 190 shares in the last quarter. Rhumbline Advisers grew its position in shares of Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company's stock valued at $5,158,000 after purchasing an additional 248 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Impinj during the 3rd quarter valued at $54,000.

Impinj Stock Down 2.0 %

PI traded down $3.90 on Wednesday, reaching $190.74. 132,011 shares of the company traded hands, compared to its average volume of 472,551. The company has a market cap of $5.40 billion, a P/E ratio of 216.33 and a beta of 1.81. The firm has a fifty day simple moving average of $203.93 and a two-hundred day simple moving average of $175.32. Impinj, Inc. has a one year low of $75.83 and a one year high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. Impinj's revenue was up 46.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.36) EPS. On average, equities analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In other Impinj news, major shareholder Sylebra Capital Llc sold 78,616 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $201.79, for a total value of $15,863,922.64. Following the transaction, the insider now directly owns 2,143,736 shares of the company's stock, valued at $432,584,487.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Impinj news, major shareholder Sylebra Capital Llc sold 78,616 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $201.79, for a total value of $15,863,922.64. Following the completion of the transaction, the insider now owns 2,143,736 shares in the company, valued at $432,584,487.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the company's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total value of $313,261.76. Following the transaction, the chief executive officer now directly owns 292,532 shares of the company's stock, valued at approximately $61,174,291.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 646,301 shares of company stock valued at $129,876,220. Insiders own 51.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PI shares. Susquehanna boosted their price target on shares of Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a research report on Monday, October 21st. Piper Sandler reiterated an "overweight" rating and issued a $235.00 target price (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Cantor Fitzgerald upped their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Roth Mkm upped their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Impinj currently has an average rating of "Moderate Buy" and a consensus price target of $224.60.

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.