KLP Kapitalforvaltning AS Purchases New Shares in Impinj, Inc. (NASDAQ:PI)

KLP Kapitalforvaltning AS purchased a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,700 shares of the company's stock, valued at approximately $683,000.

Other institutional investors also recently bought and sold shares of the company. Hillsdale Investment Management Inc. boosted its position in shares of Impinj by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company's stock valued at $3,586,000 after buying an additional 95 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Impinj by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock valued at $1,612,000 after buying an additional 100 shares in the last quarter. National Bank of Canada FI purchased a new stake in Impinj in the 3rd quarter valued at about $30,000. Xponance Inc. grew its stake in Impinj by 10.5% in the 4th quarter. Xponance Inc. now owns 1,660 shares of the company's stock worth $241,000 after acquiring an additional 158 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Impinj by 2.4% during the fourth quarter. Arizona State Retirement System now owns 6,945 shares of the company's stock worth $1,009,000 after acquiring an additional 160 shares during the period.

Insider Transactions at Impinj

In other news, COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the transaction, the chief operating officer now directly owns 70,347 shares of the company's stock, valued at $6,950,987.07. The trade was a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the transaction, the chief executive officer now owns 354,076 shares of the company's stock, valued at approximately $34,975,627.28. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,704 shares of company stock worth $1,925,748 over the last 90 days. 51.00% of the stock is currently owned by company insiders.

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Impinj Trading Down 0.7 %

Shares of PI stock traded down $0.55 during mid-day trading on Friday, reaching $73.00. The stock had a trading volume of 1,128,363 shares, compared to its average volume of 556,616. Impinj, Inc. has a 1-year low of $68.07 and a 1-year high of $239.88. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 53.68 and a beta of 1.74. The business's fifty day moving average is $100.18 and its 200-day moving average is $153.07.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PI. Piper Sandler lowered their price target on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Needham & Company LLC reduced their price target on Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Cantor Fitzgerald upgraded Impinj to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Susquehanna dropped their target price on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $183.44.

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.