U.S. Capital Wealth Advisors LLC Acquires Shares of 3,400 Impinj, Inc. (NASDAQ:PI)

U.S. Capital Wealth Advisors LLC purchased a new stake in Impinj, Inc. (NASDAQ:PI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,400 shares of the company's stock, valued at approximately $494,000.

Other hedge funds also recently made changes to their positions in the company. National Bank of Canada FI bought a new position in Impinj in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC boosted its holdings 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 valued at $33,000 after acquiring an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Impinj in the third quarter valued at approximately $54,000. Spire Wealth Management acquired a new position in shares of Impinj during the fourth quarter valued at approximately $87,000. Finally, KBC Group NV raised its holdings in Impinj by 33.5% during the fourth quarter. KBC Group NV now owns 909 shares of the company's stock worth $132,000 after purchasing an additional 228 shares in the last quarter.

Impinj Stock Down 2.2 %

PI stock traded down $2.38 during mid-day trading on Friday, reaching $105.38. 1,326,484 shares of the stock traded hands, compared to its average volume of 917,382. The business has a 50-day moving average of $145.29 and a two-hundred day moving average of $172.09. The firm has a market capitalization of $2.98 billion, a PE ratio of 77.49 and a beta of 1.88. Impinj, Inc. has a 52 week low of $97.77 and a 52 week high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data 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 return on equity of 7.69% and a net margin of 11.15%. On average, equities research analysts anticipate that Impinj, Inc. will post 1.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PI has been the subject of several research reports. Susquehanna reduced their price objective on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research report on Wednesday, January 22nd. Piper Sandler reduced their target price on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday. 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. 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 note on Thursday. Finally, Cantor Fitzgerald cut their target price on Impinj from $260.00 to $133.00 and set an "overweight" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Impinj currently has a consensus rating of "Moderate Buy" and a consensus price target of $180.10.

Insider Transactions at Impinj

In related news, CFO Cary Baker sold 290 shares of the firm's stock in a transaction that occurred on 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 $10,114,443.84. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cathal G. Phelan sold 210 shares of the company's stock in a transaction on 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 owns 6,979 shares in the company, valued at $1,019,352.74. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,132 shares of company stock valued at $18,510,291. 51.00% of the stock is owned by corporate insiders.

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.