Janus Henderson Group PLC Sells 206,164 Shares of Impinj, Inc. (NASDAQ:PI)

Janus Henderson Group PLC decreased its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 94.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,109 shares of the company's stock after selling 206,164 shares during the period. Janus Henderson Group PLC's holdings in Impinj were worth $2,406,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PI. FMR LLC boosted its stake in Impinj by 1.5% during 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 during the last quarter. Jennison Associates LLC boosted its position in shares of Impinj by 15.0% during the third quarter. Jennison Associates LLC now owns 239,140 shares of the company's stock worth $51,779,000 after purchasing an additional 31,269 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Impinj by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company's stock valued at $41,840,000 after buying an additional 6,232 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Impinj in the 2nd quarter valued at $30,116,000. Finally, Emerald Advisers LLC raised its stake in Impinj by 8.2% during the 3rd quarter. Emerald Advisers LLC now owns 182,481 shares of the company's stock worth $39,511,000 after buying an additional 13,884 shares during the period.

Impinj Stock Down 4.9 %

Shares of PI traded down $7.81 during trading hours on Friday, hitting $150.98. 745,926 shares of the company were exchanged, compared to its average volume of 476,722. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 169.64 and a beta of 1.80. The firm's fifty day moving average is $198.32 and its 200 day moving average is $177.86.

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

Insider Buying and Selling

In other news, major shareholder Sylebra Capital Llc sold 78,616 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was 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 of the company's stock, valued at $432,584,487.44. This represents a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 7,500 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the sale, the executive now directly owns 65,294 shares in the company, valued at $11,829,313.98. The trade was a 10.30 % decrease in their ownership of the stock. 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 three months. 51.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PI has been the subject of a number of research reports. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a report on Friday, October 25th. Needham & Company LLC lifted their target price on Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Piper Sandler reaffirmed an "overweight" rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Evercore ISI reiterated an "outperform" rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Lake Street Capital raised their target price on shares of Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. One 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $224.60.

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.