SFE Investment Counsel Sells 2,913 Shares of Impinj, Inc. (NASDAQ:PI)

SFE Investment Counsel trimmed its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 40.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,227 shares of the company's stock after selling 2,913 shares during the quarter. SFE Investment Counsel's holdings in Impinj were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Creative Planning grew its holdings in Impinj by 23.4% during the 3rd quarter. Creative Planning now owns 12,046 shares of the company's stock worth $2,608,000 after acquiring an additional 2,287 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its position in shares of Impinj by 70.0% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,375 shares of the company's stock worth $298,000 after purchasing an additional 566 shares in the last quarter. Harbour Capital Advisors LLC lifted its position in shares of Impinj by 73.1% during the third quarter. Harbour Capital Advisors LLC now owns 3,020 shares of the company's stock worth $690,000 after purchasing an additional 1,275 shares in the last quarter. Raymond James & Associates grew its stake in shares of Impinj by 21.7% during 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 last quarter. Finally, Everence Capital Management Inc. bought a new position in Impinj in the 3rd quarter worth approximately $546,000.

Insider Activity

In other Impinj news, CFO Cary Baker sold 290 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $140.96, for a total transaction of $40,878.40. Following the completion of the transaction, the chief financial officer now owns 71,754 shares in the company, valued at approximately $10,114,443.84. This represents a 0.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the completion of the sale, the insider now directly 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. Insiders have sold 5,466 shares of company stock worth $789,298 in the last 90 days. Corporate insiders own 51.00% of the company's stock.

Analysts Set New Price Targets

PI has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. Evercore ISI reiterated an "outperform" rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Needham & Company LLC reduced their target price on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Finally, Piper Sandler lowered 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $180.10.

Impinj Price Performance

PI traded up $0.28 during mid-day trading on Monday, hitting $103.82. The stock had a trading volume of 366,783 shares, compared to its average volume of 917,382. The stock's fifty day simple moving average is $137.62 and its 200-day simple moving average is $170.36. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 76.34 and a beta of 1.88. Impinj, Inc. has a 1-year low of $97.77 and a 1-year high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.69% and a net margin of 11.15%. As a group, research analysts expect that Impinj, Inc. will post 1.05 earnings per share for the current fiscal year.

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.