Wellington Management Group LLP Sells 95,918 Shares of Impinj, Inc. (NASDAQ:PI)

Wellington Management Group LLP cut its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 83.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,489 shares of the company's stock after selling 95,918 shares during the period. Wellington Management Group LLP owned approximately 0.07% of Impinj worth $2,686,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. EP Wealth Advisors LLC acquired a new stake in shares of Impinj during the 3rd quarter worth approximately $294,000. National Bank of Canada FI acquired a new stake in shares of Impinj in the 3rd quarter valued at $30,000. Geode Capital Management LLC increased its stake in shares of Impinj by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company's stock valued at $117,576,000 after purchasing an additional 7,676 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Impinj during the 3rd quarter worth $846,000. Finally, Virtu Financial LLC bought a new stake in shares of Impinj during the 3rd quarter worth $1,749,000.

Insider Buying and Selling

In other Impinj news, insider Cathal G. Phelan sold 565 shares of Impinj stock in a transaction on 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 sale, the insider now directly owns 7,925 shares of the company's stock, valued at approximately $782,752.25. The trade was a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Cary Baker sold 1,553 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the transaction, the chief financial officer now owns 76,451 shares in the company, valued at $7,550,300.76. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,857 shares of company stock valued at $1,665,290 over the last quarter. Insiders own 51.00% of the company's stock.

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Impinj Trading Down 0.5 %

NASDAQ:PI traded down $0.35 during trading hours on Wednesday, hitting $66.03. 721,991 shares of the company were exchanged, compared to its average volume of 579,654. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 48.55 and a beta of 1.74. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88. The company has a fifty day simple moving average of $89.85 and a 200 day simple moving average of $145.02.

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%. Equities research analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PI shares. Susquehanna dropped 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. Piper Sandler dropped their price objective on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group decreased their target price on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Finally, Needham & Company LLC cut their price objective on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $183.44.

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.