Quantbot Technologies LP Raises Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Quantbot Technologies LP lifted its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 85.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,745 shares of the company's stock after purchasing an additional 13,252 shares during the quarter. Quantbot Technologies LP owned about 0.10% of Impinj worth $4,175,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its stake in shares of Impinj by 0.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock valued at $1,612,000 after buying an additional 100 shares during the period. National Bank of Canada FI purchased a new position in Impinj in the third quarter worth approximately $30,000. Farther Finance Advisors LLC increased its stake in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock worth $33,000 after acquiring an additional 141 shares during the last quarter. KBC Group NV raised its position in Impinj by 29.7% in the third quarter. KBC Group NV now owns 681 shares of the company's stock valued at $147,000 after purchasing an additional 156 shares during the period. Finally, Xponance Inc. raised its position in Impinj by 10.5% in the fourth quarter. Xponance Inc. now owns 1,660 shares of the company's stock valued at $241,000 after purchasing an additional 158 shares during the period.

Insider Buying and Selling at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 8,334 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the transaction, the chief executive officer now directly owns 354,076 shares in the company, valued at $34,975,627.28. This represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of the business'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 transaction of $30,672.60. Following the sale, the insider now owns 6,979 shares of the company's stock, 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 three months, insiders have sold 22,323 shares of company stock valued at $2,454,588. Insiders own 51.00% of the company's stock.

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Wall Street Analyst Weigh In

PI has been the subject of a number of recent analyst reports. Cantor Fitzgerald upgraded shares of Impinj to a "strong-buy" rating in a report on Thursday, February 27th. Piper Sandler dropped their price target on shares of 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 decreased 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. Needham & Company LLC dropped their target price on shares of Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Finally, StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. One 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $183.44.

Impinj Trading Up 2.8 %

NASDAQ:PI traded up $2.60 during midday trading on Wednesday, reaching $94.06. The company had a trading volume of 711,591 shares, compared to its average volume of 525,581. The stock's fifty day simple moving average is $113.71 and its 200-day simple moving average is $161.08. Impinj, Inc. has a 12-month low of $84.17 and a 12-month high of $239.88. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 69.16 and a beta of 1.98.

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

Impinj Company 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.