State Street Corp Has $233.56 Million Position in Impinj, Inc. (NASDAQ:PI)

State Street Corp boosted its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 25.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,078,676 shares of the company's stock after buying an additional 220,776 shares during the quarter. State Street Corp owned about 3.81% of Impinj worth $233,555,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Diversified Trust Co acquired a new position in Impinj during the second quarter valued at approximately $315,000. Wealth Enhancement Advisory Services LLC acquired a new position in Impinj in the 2nd quarter valued at $566,000. Assenagon Asset Management S.A. bought a new position in Impinj in the 2nd quarter worth $103,252,000. Raymond James & Associates raised its holdings in Impinj by 30.2% in the 2nd quarter. Raymond James & Associates now owns 18,861 shares of the company's stock worth $2,957,000 after acquiring an additional 4,373 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Impinj by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 121,159 shares of the company's stock worth $18,994,000 after acquiring an additional 7,496 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PI. Piper Sandler reissued an "overweight" rating and issued a $235.00 price target (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. Cantor Fitzgerald boosted their price target on Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Evercore ISI reaffirmed an "outperform" rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their price objective on Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. One investment 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $224.60.

Insider Buying and Selling at Impinj

In related news, CRO Jeffrey Dossett sold 488 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.84, for a total value of $116,065.92. Following the completion of the transaction, the executive now directly owns 65,294 shares of the company's stock, valued at approximately $15,529,524.96. This represents a 0.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sylebra Capital Llc sold 2,550 shares of Impinj stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $195.41, for a total value of $498,295.50. Following the completion of the sale, the insider now directly owns 2,129,260 shares in the company, valued at $416,078,696.60. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 655,674 shares of company stock valued at $131,623,305. Company insiders own 51.00% of the company's stock.

Impinj Trading Down 0.2 %

Shares of PI traded down $0.24 on Thursday, reaching $158.79. 633,624 shares of the company's stock were exchanged, compared to its average volume of 475,601. Impinj, Inc. has a 12 month low of $78.17 and a 12 month high of $239.88. The stock has a market capitalization of $4.49 billion, a P/E ratio of 178.42 and a beta of 1.80. The business has a 50 day moving average price of $198.32 and a two-hundred day moving average price of $177.86.

Impinj (NASDAQ:PI - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company's quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. Equities research analysts predict that Impinj, Inc. will post 0.4 EPS for the current 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.