BNP Paribas Financial Markets Has $4.55 Million Stock Holdings in Impinj, Inc. (NASDAQ:PI)

BNP Paribas Financial Markets reduced its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 79.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,992 shares of the company's stock after selling 81,231 shares during the period. BNP Paribas Financial Markets owned approximately 0.07% of Impinj worth $4,545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new position in shares of Impinj in the 2nd quarter worth approximately $103,252,000. Renaissance Technologies LLC acquired a new position in shares of Impinj in the 2nd quarter worth approximately $30,116,000. Principal Financial Group Inc. boosted its holdings in shares of Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company's stock worth $27,202,000 after acquiring an additional 122,579 shares in the last quarter. AXA S.A. acquired a new position in shares of Impinj in the 2nd quarter worth approximately $11,574,000. Finally, FMR LLC boosted its holdings in shares of Impinj by 1.5% in the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company's stock worth $913,152,000 after acquiring an additional 60,461 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PI shares. Lake Street Capital boosted their target price on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a report on Friday, October 25th. Needham & Company LLC upped their price objective on Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald upped their price objective on Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a 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 assigned a buy rating to the stock. According to MarketBeat.com, Impinj presently has an average rating of "Moderate Buy" and an average price target of $224.60.

Impinj Price Performance

Shares of PI stock traded up $0.35 during trading hours on Wednesday, reaching $188.56. The company had a trading volume of 125,018 shares, compared to its average volume of 467,188. The company has a 50 day moving average of $205.04 and a 200 day moving average of $178.12. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 212.40 and a beta of 1.80. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm's quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.36) EPS. As a group, sell-side analysts forecast that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Insider Activity at Impinj

In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 14.81 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Jeffrey Dossett sold 7,500 shares of the company's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the completion of the sale, the executive now owns 65,294 shares of the company's stock, valued at approximately $11,829,313.98. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 655,674 shares of company stock worth $131,623,305 in the last quarter. Corporate insiders own 51.00% of the company's stock.

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.