Impinj, Inc. (NASDAQ:PI) Stock Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 21.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,907 shares of the company's stock after acquiring an additional 27,274 shares during the period. Principal Financial Group Inc. owned approximately 0.54% of Impinj worth $22,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Creative Planning raised its stake in shares of Impinj by 23.4% in the third quarter. Creative Planning now owns 12,046 shares of the company's stock worth $2,608,000 after purchasing an additional 2,287 shares during the last quarter. Raymond James & Associates grew its holdings in Impinj by 21.7% in the third quarter. Raymond James & Associates now owns 22,951 shares of the company's stock valued at $4,969,000 after purchasing an additional 4,090 shares during the period. Highland Capital Management LLC acquired a new stake in shares of Impinj in the third quarter worth approximately $222,000. Louisiana State Employees Retirement System acquired a new stake in shares of Impinj in the third quarter worth approximately $2,382,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Impinj by 157.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company's stock worth $2,009,000 after acquiring an additional 5,669 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Susquehanna reduced their price target on Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a report on Wednesday, January 22nd. The Goldman Sachs Group cut their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. Piper Sandler lowered 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. Finally, Cantor Fitzgerald cut their price target on Impinj from $260.00 to $133.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Impinj currently has an average rating of "Moderate Buy" and a consensus target price of $180.10.

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Impinj Trading Down 5.1 %

NASDAQ:PI traded down $4.87 on Thursday, hitting $91.41. The company had a trading volume of 341,572 shares, compared to its average volume of 735,862. Impinj, Inc. has a 52 week low of $91.41 and a 52 week high of $239.88. The firm has a 50 day moving average of $129.01 and a two-hundred day moving average of $167.74. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 67.21 and a beta of 1.88.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. As a group, equities analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Insider Activity

In other Impinj news, CRO Jeffrey Dossett sold 580 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $84,714.80. Following the transaction, the executive now owns 66,180 shares of the company's stock, valued at $9,666,250.80. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cathal G. Phelan sold 210 shares of the business's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the sale, the insider now owns 6,979 shares in the company, valued at $1,019,352.74. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,323 shares of company stock valued at $2,454,588. Corporate insiders own 51.00% of the company's stock.

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.