Allspring Global Investments Holdings LLC Sells 13,150 Shares of Impinj, Inc. (NASDAQ:PI)

Allspring Global Investments Holdings LLC trimmed its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 176,191 shares of the company's stock after selling 13,150 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.62% of Impinj worth $25,852,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Creative Planning lifted its stake in shares of Impinj by 23.4% in the 3rd quarter. Creative Planning now owns 12,046 shares of the company's stock valued at $2,608,000 after purchasing an additional 2,287 shares during the period. Raymond James & Associates raised its holdings in shares of Impinj by 21.7% during the third quarter. Raymond James & Associates now owns 22,951 shares of the company's stock worth $4,969,000 after acquiring an additional 4,090 shares during the period. Everence Capital Management Inc. bought a new stake in Impinj in the 3rd quarter valued at approximately $546,000. Courier Capital LLC acquired a new position in Impinj during the third quarter worth $217,000. Finally, X Square Capital LLC bought a new position in shares of Impinj in the third quarter valued at $223,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Lake Street Capital increased their price target on shares of Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. The Goldman Sachs Group reduced their price objective on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Piper Sandler dropped their price objective on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, Susquehanna reduced their target price 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $180.10.

Impinj Trading Down 2.3 %

Shares of NASDAQ:PI traded down $2.47 on Wednesday, reaching $103.12. 250,935 shares of the company's stock were exchanged, compared to its average volume of 787,294. Impinj, Inc. has a twelve month low of $97.77 and a twelve month high of $239.88. The company has a fifty day moving average of $136.51 and a 200-day moving average of $170.08. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 75.82 and a beta of 1.88.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) 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%. As a group, equities research analysts forecast that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Insider Activity at Impinj

In other news, COO Hussein Mecklai sold 338 shares of Impinj stock in a transaction on Monday, January 13th. The stock was sold at an average price of $141.02, for a total value of $47,664.76. Following the transaction, the chief operating officer now owns 61,586 shares in the company, valued at approximately $8,684,857.72. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 1,504 shares of the business's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.22, for a total value of $219,914.88. Following the transaction, the chief executive officer now directly owns 331,572 shares of the company's stock, valued at $48,482,457.84. This trade represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,466 shares of company stock valued at $789,298 over the last quarter. 51.00% of the stock is owned by corporate insiders.

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.