Trexquant Investment LP Has $2.26 Million Stake in Impinj, Inc. (NASDAQ:PI)

Trexquant Investment LP trimmed its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 32.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,579 shares of the company's stock after selling 7,581 shares during the quarter. Trexquant Investment LP owned 0.06% of Impinj worth $2,263,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PI. Vanguard Group Inc. raised its position in Impinj by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock valued at $500,009,000 after buying an additional 104,861 shares during the last quarter. State Street Corp grew its stake in shares of Impinj by 25.7% during the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company's stock worth $233,555,000 after acquiring an additional 220,776 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Impinj by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock worth $79,654,000 after acquiring an additional 3,899 shares in the last quarter. Norges Bank acquired a new stake in shares of Impinj in the fourth quarter valued at approximately $40,100,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Impinj by 10.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company's stock worth $30,998,000 after purchasing an additional 20,158 shares in the last quarter.

Impinj Trading Up 1.3 %

NASDAQ:PI traded up $0.85 on Friday, hitting $66.77. The company's stock had a trading volume of 834,819 shares, compared to its average volume of 576,286. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88. The firm has a market capitalization of $1.91 billion, a P/E ratio of 49.10 and a beta of 1.74. The stock has a fifty day moving average of $91.86 and a two-hundred day moving average of $147.08.

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

Insider Buying and Selling at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 841 shares of the business's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.02, for a total value of $118,597.82. Following the completion of the sale, the chief executive officer now owns 333,856 shares of the company's stock, valued at $47,080,373.12. The trade was a 0.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cathal G. Phelan sold 565 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total transaction of $55,805.05. Following the transaction, the insider now directly owns 7,925 shares in the company, valued at $782,752.25. This represents a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock valued at $1,925,748 in the last three months. 51.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PI has been the subject of a number of analyst reports. Needham & Company LLC decreased their target price on shares of Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Piper Sandler decreased their price objective on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Susquehanna dropped their target price on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a report on Wednesday, January 22nd. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Finally, The Goldman Sachs Group lowered their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Impinj has an average rating of "Moderate Buy" and a consensus target price of $183.44.

About Impinj

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.