Impinj, Inc. (NASDAQ:PI) Holdings Decreased by Prudential Financial Inc.

Prudential Financial Inc. lessened its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 26.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,012 shares of the company's stock after selling 13,148 shares during the period. Prudential Financial Inc. owned 0.13% of Impinj worth $5,231,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PI. National Bank of Canada FI purchased a new stake in Impinj during the 3rd quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Impinj during the 4th quarter worth about $33,000. Jones Financial Companies Lllp grew its holdings in shares of Impinj by 205.9% during 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 in the last quarter. IFP Advisors Inc raised its position in shares of Impinj by 116.5% in 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 last quarter. Finally, Spire Wealth Management purchased a new position in shares of Impinj during the fourth quarter valued at approximately $87,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. 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 dropped their target price on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Susquehanna dropped their price objective on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald upgraded shares of Impinj to a "strong-buy" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Impinj has an average rating of "Moderate Buy" and an average price target of $183.44.

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Impinj Stock Performance

PI traded down $0.55 on Friday, reaching $73.00. 1,128,363 shares of the company's stock were exchanged, compared to its average volume of 556,616. Impinj, Inc. has a twelve month low of $68.07 and a twelve month high of $239.88. The company's 50 day moving average is $100.18 and its 200-day moving average is $153.35. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 53.68 and a beta of 1.74.

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 return on equity of 7.11% and a net margin of 11.15%. Sell-side analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Insider Buying and Selling at Impinj

In other Impinj news, insider Cathal G. Phelan sold 565 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the sale, the insider now owns 7,925 shares of the company's stock, valued at $782,752.25. This trade represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cary Baker sold 1,553 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.76, for a total transaction of $153,374.28. Following the transaction, the chief financial officer now directly owns 76,451 shares in the company, valued at approximately $7,550,300.76. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,704 shares of company stock valued at $1,925,748 over the last three months. 51.00% of the stock is owned by company insiders.

About Impinj

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.