Polymer Capital Management HK LTD acquired a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,500 shares of the company's stock, valued at approximately $1,961,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PI. National Bank of Canada FI purchased a new position in Impinj in the third quarter worth about $30,000. SBI Securities Co. Ltd. bought a new position in shares of Impinj in the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp boosted its holdings in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after buying an additional 175 shares during the last quarter. IFP Advisors Inc grew its position 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 buying an additional 198 shares during the period. Finally, Spire Wealth Management bought a new stake in Impinj during the fourth quarter valued at approximately $87,000.
Impinj Stock Up 1.3 %
NASDAQ PI traded up $0.84 during trading hours on Friday, reaching $66.76. The company's stock had a trading volume of 392,783 shares, compared to its average volume of 572,864. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 48.46 and a beta of 1.74. The firm's 50-day moving average price is $93.05 and its 200-day moving average price is $148.10.
Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Equities research analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Cathal G. Phelan sold 565 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.77, for a total transaction of $55,805.05. Following the sale, the insider now owns 7,925 shares of the company's stock, valued at $782,752.25. This represents a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Cary Baker sold 290 shares of Impinj stock in a transaction on Monday, January 13th. The stock was sold at an average price of $140.96, for a total transaction of $40,878.40. Following the completion of the transaction, the chief financial officer now directly owns 71,754 shares of the company's stock, valued at $10,114,443.84. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock worth $1,925,748 in the last 90 days. 51.00% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several research analysts have recently weighed in on PI shares. Needham & Company LLC dropped their price target on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Susquehanna lowered their target price on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler reduced their price target on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group lowered their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald upgraded Impinj to a "strong-buy" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Impinj presently has a consensus rating of "Moderate Buy" and an average price target of $183.44.
Get 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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