Royce & Associates LP Cuts Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Royce & Associates LP lessened its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 16.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 198,270 shares of the company's stock after selling 38,224 shares during the period. Royce & Associates LP owned about 0.70% of Impinj worth $42,929,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Impinj in the 1st quarter worth about $513,000. Swiss National Bank raised its holdings in shares of Impinj by 0.9% during the first quarter. Swiss National Bank now owns 45,400 shares of the company's stock valued at $5,830,000 after purchasing an additional 400 shares during the last quarter. ProShare Advisors LLC lifted its position in Impinj by 8.5% during the first quarter. ProShare Advisors LLC now owns 4,194 shares of the company's stock valued at $539,000 after purchasing an additional 330 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Impinj in the first quarter worth approximately $9,659,000. Finally, Vanguard Group Inc. grew its position in Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company's stock worth $322,384,000 after purchasing an additional 35,893 shares during the period.

Impinj Trading Down 3.4 %

Shares of PI traded down $6.22 during mid-day trading on Friday, hitting $176.51. The company's stock had a trading volume of 391,006 shares, compared to its average volume of 473,300. The company's 50-day moving average is $205.34 and its 200-day moving average is $175.74. Impinj, Inc. has a 52-week low of $78.17 and a 52-week high of $239.88. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 198.33 and a beta of 1.81.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million for the quarter, compared to analysts' expectations of $92.86 million. During the same period last year, the business earned ($0.36) EPS. The company's revenue was up 46.5% compared to the same quarter last year. As a group, sell-side analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on PI. Susquehanna increased their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a research note on Monday, October 21st. Needham & Company LLC boosted their price objective on shares of Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Cantor Fitzgerald raised their target price on Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Evercore ISI reissued an "outperform" rating and set a $270.00 price target (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Roth Mkm lifted their price objective on Impinj from $145.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Impinj presently has an average rating of "Moderate Buy" and a consensus price target of $224.60.

Insiders Place Their Bets

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,498 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total transaction of $313,261.76. Following the sale, the chief executive officer now directly owns 292,532 shares of the company's stock, valued at approximately $61,174,291.84. This trade represents a 0.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cary Baker sold 496 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total value of $103,748.32. Following the sale, the chief financial officer now directly owns 70,524 shares in the company, valued at approximately $14,751,505.08. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 656,351 shares of company stock valued at $131,733,291. 51.00% of the stock is currently owned by corporate 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.