UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in Impinj, Inc. (NASDAQ:PI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 18.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 324,640 shares of the company's stock after selling 74,864 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.15% of Impinj worth $70,291,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. First Bank & Trust lifted its holdings in Impinj by 3.2% in the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company's stock valued at $383,000 after purchasing an additional 55 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock worth $33,000 after buying an additional 141 shares in the last quarter. KBC Group NV boosted its position in Impinj by 29.7% during the third quarter. KBC Group NV now owns 681 shares of the company's stock worth $147,000 after acquiring an additional 156 shares during the last quarter. Hsbc Holdings PLC grew its stake in Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company's stock valued at $432,000 after acquiring an additional 190 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Impinj by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company's stock valued at $5,158,000 after acquiring an additional 248 shares during the last quarter.

Impinj Price Performance

Shares of NASDAQ PI traded up $0.66 during midday trading on Tuesday, hitting $188.21. The company's stock had a trading volume of 435,824 shares, compared to its average volume of 468,703. The business's fifty day simple moving average is $205.53 and its two-hundred day simple moving average is $178.02. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 211.47 and a beta of 1.80. Impinj, Inc. has a 1 year low of $78.17 and a 1 year high of $239.88.

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

Insider Activity

In other news, insider Cathal G. Phelan sold 209 shares of the business's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the completion of the sale, the insider now directly owns 17,647 shares of the company's stock, valued at approximately $3,690,870.05. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the business's stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares of the company's stock, valued at $155,006,638.64. This trade represents a 14.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 655,674 shares of company stock worth $131,623,305. 51.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on PI. Susquehanna increased their price target on Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a report on Monday, October 21st. Evercore ISI reiterated 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. Piper Sandler reissued an "overweight" rating and issued a $235.00 price objective (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Cantor Fitzgerald lifted their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, Lake Street Capital increased their price target on shares of Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Impinj has an average rating of "Moderate Buy" and an average target price of $224.60.

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.