Rockefeller Capital Management L.P. Purchases Shares of 93,061 Impinj, Inc. (NASDAQ:PI)

Rockefeller Capital Management L.P. bought a new position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 93,061 shares of the company's stock, valued at approximately $13,518,000. Rockefeller Capital Management L.P. owned 0.33% of Impinj at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI bought a new position in Impinj in the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new position in Impinj in the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp raised its position in Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock valued at $38,000 after purchasing an additional 175 shares in the last quarter. IFP Advisors Inc lifted its stake in Impinj by 116.5% during the fourth quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after purchasing an additional 198 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in Impinj during the fourth quarter worth $87,000.

Impinj Stock Up 4.0 %

NASDAQ:PI traded up $2.64 on Friday, hitting $68.67. The stock had a trading volume of 671,217 shares, compared to its average volume of 583,776. The business's fifty day moving average is $87.58 and its 200 day moving average is $142.47. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88. The company has a market cap of $1.96 billion, a PE ratio of 50.49 and a beta of 1.74.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share 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%. Equities analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on PI shares. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. The Goldman Sachs Group dropped their target price on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald raised shares of Impinj to a "strong-buy" rating in a report on Thursday, February 27th. Piper Sandler cut their target price on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, Susquehanna dropped their price target on Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $183.44.

Insiders Place Their Bets

In related news, insider Cathal G. Phelan sold 565 shares of the firm's stock in a transaction that occurred 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 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 at 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 value of $153,374.28. Following the completion of the transaction, the chief financial officer now owns 76,451 shares of the company's stock, valued at $7,550,300.76. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,857 shares of company stock worth $1,665,290 in the last ninety days. 51.00% of the stock is currently owned by insiders.

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.