Thrivent Financial for Lutherans Boosts Stock Position in Impinj, Inc. (NASDAQ:PI)

Thrivent Financial for Lutherans lifted its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 464.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 100,991 shares of the company's stock after purchasing an additional 83,107 shares during the period. Thrivent Financial for Lutherans owned about 0.36% of Impinj worth $14,670,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. National Bank of Canada FI bought a new stake in Impinj in the 3rd quarter worth $30,000. SBI Securities Co. Ltd. purchased a new stake in Impinj in the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp grew its position in shares of Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after buying an additional 175 shares during the last quarter. IFP Advisors Inc lifted its stake in Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after acquiring an additional 198 shares during the period. Finally, Spire Wealth Management purchased a new stake in shares of Impinj in the 4th quarter worth about $87,000.

Insider Buying and Selling

In other news, CRO Jeffrey Dossett sold 378 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.05, for a total transaction of $53,316.90. Following the completion of the sale, the executive now owns 67,052 shares of the company's stock, valued at $9,457,684.60. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 841 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $118,597.82. Following the completion of the transaction, the chief executive officer now directly owns 333,856 shares in the company, valued at approximately $47,080,373.12. The trade was a 0.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,704 shares of company stock worth $1,925,748. 51.00% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler reduced 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. Cantor Fitzgerald raised shares of Impinj to a "strong-buy" rating in a research note on Thursday, February 27th. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. The Goldman Sachs Group reduced their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Finally, Needham & Company LLC dropped their target price on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $183.44.

Impinj Stock Performance

Shares of PI stock traded down $0.47 during mid-day trading on Wednesday, hitting $91.15. The company's stock had a trading volume of 301,966 shares, compared to its average volume of 527,024. Impinj, Inc. has a 52-week low of $84.17 and a 52-week high of $239.88. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 67.02 and a beta of 1.98. The business has a 50-day moving average price of $108.05 and a 200 day moving average price of $158.54.

Impinj (NASDAQ:PI - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Equities research analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal 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.