Assenagon Asset Management S.A. Trims Stake in Impinj, Inc. (NASDAQ:PI)

Assenagon Asset Management S.A. lessened its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 73.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,851 shares of the company's stock after selling 485,768 shares during the quarter. Assenagon Asset Management S.A. owned about 0.61% of Impinj worth $37,426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PI. Hsbc Holdings PLC lifted its position in Impinj by 7.3% during the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company's stock worth $432,000 after buying an additional 190 shares in the last quarter. Rhumbline Advisers lifted its position in Impinj by 0.8% during the second quarter. Rhumbline Advisers now owns 32,900 shares of the company's stock worth $5,158,000 after buying an additional 248 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Impinj during the first quarter worth approximately $32,000. Arizona State Retirement System lifted its position in Impinj by 4.1% during the second quarter. Arizona State Retirement System now owns 6,581 shares of the company's stock worth $1,032,000 after buying an additional 261 shares in the last quarter. Finally, USA Financial Formulas lifted its position in Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company's stock worth $142,000 after buying an additional 296 shares in the last quarter.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 496 shares of Impinj stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total transaction of $103,748.32. Following the completion of the sale, the chief financial officer now directly owns 70,524 shares of the company's stock, valued at $14,751,505.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Impinj news, CFO Cary Baker sold 496 shares of Impinj stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total transaction of $103,748.32. Following the completion of the sale, the chief financial officer now directly owns 70,524 shares of the company's stock, valued at $14,751,505.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chris Ph.D. Diorio sold 1,219 shares of the business's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.82, for a total value of $289,902.58. Following the completion of the sale, the chief executive officer now directly owns 294,438 shares of the company's stock, valued at $70,023,245.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,779 shares of company stock valued at $3,825,046 in the last ninety days. Insiders own 51.00% of the company's stock.

Impinj Stock Performance

Shares of NASDAQ PI traded up $8.49 during trading on Friday, reaching $200.70. The stock had a trading volume of 1,047,372 shares, compared to its average volume of 469,339. Impinj, Inc. has a fifty-two week low of $58.56 and a fifty-two week high of $239.88. The business's 50-day moving average price is $195.60 and its 200-day moving average price is $168.43. The company has a market cap of $5.64 billion, a P/E ratio of 704.48 and a beta of 1.80.

Impinj (NASDAQ:PI - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. Impinj's revenue was up 46.5% compared to the same quarter last year. During the same period last year, the business posted ($0.36) earnings per share. Analysts forecast that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PI has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday. Cantor Fitzgerald raised their target price on Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a research note on Thursday. Evercore ISI reissued an "outperform" rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a research note on Thursday. StockNews.com raised Impinj from a "sell" rating to a "hold" rating in a research note on Friday, July 26th. Finally, Needham & Company LLC raised their target price on Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Impinj has an average rating of "Moderate Buy" and an average 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.