Pachira Investments Inc. Purchases 17,433 Shares of Impinj, Inc. (NASDAQ:PI)

Pachira Investments Inc. increased its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 567.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,504 shares of the company's stock after acquiring an additional 17,433 shares during the quarter. Impinj makes up about 1.8% of Pachira Investments Inc.'s portfolio, making the stock its 16th largest position. Pachira Investments Inc. owned approximately 0.07% of Impinj worth $3,006,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC boosted its stake in Impinj by 210.2% during 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 in the last quarter. Nordea Investment Management AB acquired a new position in Impinj during the fourth quarter worth $3,341,000. Thrivent Financial for Lutherans acquired a new position in Impinj during the third quarter worth $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new position in Impinj during the third quarter worth $846,000. Finally, Intech Investment Management LLC acquired a new position in Impinj during the third quarter worth $1,437,000.

Impinj Stock Up 0.3 %

NASDAQ PI traded up $0.28 during trading hours on Friday, reaching $103.82. 366,783 shares of the company were exchanged, compared to its average volume of 817,065. Impinj, Inc. has a 1 year low of $97.77 and a 1 year high of $239.88. The business's 50 day simple moving average is $138.85 and its 200-day simple moving average is $170.60. The stock has a market capitalization of $2.96 billion, a P/E ratio of 76.34 and a beta of 1.88.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data 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 7.69% and a net margin of 11.15%. As a group, sell-side analysts anticipate that Impinj, Inc. will post 1.05 earnings per share for the current year.

Insider Buying and Selling

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,504 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total transaction of $219,914.88. Following the completion of the transaction, the chief executive officer now owns 331,572 shares in the company, valued at $48,482,457.84. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Hussein Mecklai sold 338 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $47,664.76. Following the transaction, the chief operating officer now owns 61,586 shares of the company's stock, valued at $8,684,857.72. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,466 shares of company stock worth $789,298. Insiders own 51.00% of the company's stock.

Analyst Upgrades and Downgrades

PI has been the topic of several research reports. Cantor Fitzgerald lowered their price objective on shares of Impinj from $260.00 to $133.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. The Goldman Sachs Group lowered their price objective on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Lake Street Capital upped their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Needham & Company LLC lowered their price objective 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. Finally, StockNews.com downgraded shares of Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $180.10.

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.