Los Angeles Capital Management LLC grew its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 88.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,106 shares of the company's stock after buying an additional 7,537 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.06% of Impinj worth $2,340,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in PI. National Bank of Canada FI bought a new stake in Impinj in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC increased its position in Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock worth $33,000 after purchasing an additional 141 shares during the last quarter. IFP Advisors Inc raised its stake in Impinj by 116.5% during the fourth quarter. IFP Advisors Inc now owns 368 shares of the company's stock valued at $53,000 after purchasing an additional 198 shares in the last quarter. Spire Wealth Management bought a new position in Impinj during the fourth quarter valued at $87,000. Finally, KBC Group NV grew its stake in shares of Impinj by 33.5% in the 4th quarter. KBC Group NV now owns 909 shares of the company's stock worth $132,000 after buying an additional 228 shares in the last quarter.
Insider Activity at Impinj
In related news, insider Cathal G. Phelan sold 210 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the transaction, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Cary Baker sold 1,553 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the sale, the chief financial officer now owns 76,451 shares of the company's stock, valued at approximately $7,550,300.76. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,323 shares of company stock valued at $2,454,588 in the last ninety days. Corporate insiders own 51.00% of the company's stock.
Impinj Stock Performance
NASDAQ:PI traded down $8.93 during trading hours on Monday, reaching $87.73. The company's stock had a trading volume of 769,032 shares, compared to its average volume of 514,576. The company has a market capitalization of $2.50 billion, a P/E ratio of 64.51 and a beta of 1.88. The stock has a 50 day moving average price of $126.92 and a two-hundred day moving average price of $167.00. Impinj, Inc. has a 12 month low of $87.10 and a 12 month high of $239.88.
Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share 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, analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. The Goldman Sachs Group cut their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald upgraded Impinj to a "strong-buy" rating in a research report on Thursday. Needham & Company LLC cut their price target on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Piper Sandler decreased their price objective on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Finally, StockNews.com downgraded shares of Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Impinj presently has an average rating of "Moderate Buy" and an average target price of $180.10.
Check Out Our Latest Analysis on Impinj
Impinj Profile
(
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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