Integrated Quantitative Investments LLC purchased a new stake in Impinj, Inc. (NASDAQ:PI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,012 shares of the company's stock, valued at approximately $873,000.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Impinj by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock worth $500,009,000 after purchasing an additional 104,861 shares during the period. State Street Corp boosted its holdings in shares of Impinj by 25.7% during the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company's stock worth $233,555,000 after buying an additional 220,776 shares during the period. Geode Capital Management LLC raised its holdings in Impinj by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock worth $79,654,000 after acquiring an additional 3,899 shares during the period. Norges Bank acquired a new position in Impinj during the 4th quarter worth $40,100,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Impinj by 10.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company's stock valued at $30,998,000 after acquiring an additional 20,158 shares during the period.
Insider Activity at Impinj
In related news, insider Cathal G. Phelan sold 565 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the transaction, the insider now owns 7,925 shares in the company, valued at $782,752.25. This trade represents a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jeffrey Dossett sold 378 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.05, for a total transaction of $53,316.90. Following the transaction, the executive now owns 67,052 shares in the company, valued at approximately $9,457,684.60. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,704 shares of company stock valued at $1,925,748 in the last three months. Corporate insiders own 51.00% of the company's stock.
Analysts Set New Price Targets
PI has been the subject of several recent analyst reports. Piper Sandler decreased their target price on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Cantor Fitzgerald raised Impinj to a "strong-buy" rating in a research report on Thursday, February 27th. Needham & Company LLC dropped their target price on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group reduced their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. Finally, Susquehanna dropped their price objective on shares of Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $183.44.
Read Our Latest Analysis on Impinj
Impinj Stock Up 1.0 %
NASDAQ:PI traded up $0.62 during trading hours on Wednesday, reaching $63.16. The company had a trading volume of 295,747 shares, compared to its average volume of 694,985. The firm has a market capitalization of $1.80 billion, a PE ratio of 46.58 and a beta of 1.74. The stock has a 50-day moving average of $96.19 and a two-hundred day moving average of $150.54. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88.
Impinj (NASDAQ:PI - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (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, sell-side analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current year.
About Impinj
(
Free Report)
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.
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