Vanguard Group Inc. Raises Stock Position in Impinj, Inc. (NASDAQ:PI)

Vanguard Group Inc. increased its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,442,164 shares of the company's stock after buying an additional 104,861 shares during the period. Vanguard Group Inc. owned 12.17% of Impinj worth $500,009,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PI. Nordea Investment Management AB bought a new stake in Impinj in the 4th quarter valued at about $3,341,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Impinj in the third quarter valued at approximately $846,000. Asset Management One Co. Ltd. increased its holdings in shares of Impinj by 85.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company's stock valued at $174,000 after acquiring an additional 542 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Impinj by 1.4% during the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company's stock worth $117,576,000 after purchasing an additional 7,676 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Impinj by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company's stock worth $41,840,000 after purchasing an additional 6,232 shares in the last quarter.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 290 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $140.96, for a total transaction of $40,878.40. Following the sale, the chief financial officer now directly owns 71,754 shares of the company's stock, valued at $10,114,443.84. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cathal G. Phelan sold 565 shares of Impinj stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the transaction, the insider now owns 7,925 shares of the company's stock, valued at $782,752.25. The trade was a 6.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,704 shares of company stock valued at $1,925,748. Company insiders own 51.00% of the company's stock.

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Impinj Trading Down 0.7 %

Shares of PI traded down $0.55 on Friday, reaching $73.00. 1,128,363 shares of the company's stock traded hands, compared to its average volume of 556,616. The stock's 50 day simple moving average is $100.18 and its two-hundred day simple moving average is $153.07. The stock has a market cap of $2.08 billion, a PE ratio of 53.68 and a beta of 1.74. Impinj, Inc. has a 52-week low of $68.07 and a 52-week high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last announced 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%. Analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

PI has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. StockNews.com lowered shares of Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Susquehanna cut their price target on Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research note on Wednesday, January 22nd. Cantor Fitzgerald raised Impinj to a "strong-buy" rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group dropped their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Impinj presently has a consensus rating of "Moderate Buy" and an average 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.