Nordea Investment Management AB Acquires New Position in Impinj, Inc. (NASDAQ:PI)

Nordea Investment Management AB bought a new position in Impinj, Inc. (NASDAQ:PI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,756 shares of the company's stock, valued at approximately $3,341,000. Nordea Investment Management AB owned about 0.08% of Impinj as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC raised its position in shares of Impinj by 210.2% in the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company's stock worth $1,855,000 after acquiring an additional 5,807 shares during the period. Thrivent Financial for Lutherans acquired a new position in Impinj in the 3rd quarter worth about $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new position in Impinj in the 3rd quarter worth about $846,000. Principal Financial Group Inc. boosted its position in Impinj by 4,013.7% during the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company's stock worth $27,202,000 after purchasing an additional 122,579 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Impinj in the third quarter valued at approximately $1,437,000.

Insider Activity

In other news, major shareholder Sylebra Capital Llc sold 32,031 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total value of $6,257,255.85. Following the completion of the sale, the insider now directly owns 3,021,548 shares of the company's stock, valued at approximately $590,259,401.80. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cary Baker sold 499 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $72,883.94. Following the transaction, the chief financial officer now owns 71,107 shares in the company, valued at $10,385,888.42. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 655,691 shares of company stock worth $131,398,769. 51.00% of the stock is currently owned by insiders.

Impinj Stock Down 4.5 %

Impinj stock traded down $6.69 during mid-day trading on Friday, reaching $143.62. 489,546 shares of the company's stock were exchanged, compared to its average volume of 389,955. The company has a fifty day moving average of $169.26 and a 200-day moving average of $176.92. The company has a market cap of $4.06 billion, a P/E ratio of 161.37 and a beta of 1.88. Impinj, Inc. has a twelve month low of $78.17 and a twelve month high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same period in the prior year, the firm earned ($0.36) earnings per share. The business's quarterly revenue was up 46.5% compared to the same quarter last year. Equities research analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PI shares. Piper Sandler reaffirmed an "overweight" rating and issued a $235.00 price target (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. Susquehanna boosted their price target on Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a research report on Monday, October 21st. Needham & Company LLC raised their price objective on Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, Lake Street Capital lifted their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Impinj presently has a consensus rating of "Moderate Buy" and a consensus target price of $224.60.

Impinj 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.