Virtu Financial LLC Has $287,000 Stake in Impinj, Inc. (NASDAQ:PI)

Virtu Financial LLC lessened its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 75.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,977 shares of the company's stock after selling 6,101 shares during the quarter. Virtu Financial LLC's holdings in Impinj were worth $287,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PI. Louisiana State Employees Retirement System increased its position in shares of Impinj by 0.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock valued at $1,612,000 after buying an additional 100 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Impinj in the third quarter worth about $30,000. Xponance Inc. increased its holdings in shares of Impinj by 10.5% in the fourth quarter. Xponance Inc. now owns 1,660 shares of the company's stock worth $241,000 after acquiring an additional 158 shares in the last quarter. Arizona State Retirement System raised its position in shares of Impinj by 2.4% during the fourth quarter. Arizona State Retirement System now owns 6,945 shares of the company's stock worth $1,009,000 after purchasing an additional 160 shares during the period. Finally, First Bank & Trust lifted its holdings in shares of Impinj by 9.5% during the 4th quarter. First Bank & Trust now owns 1,936 shares of the company's stock valued at $281,000 after purchasing an additional 168 shares in the last quarter.

Insider Activity at Impinj

In related news, insider Cathal G. Phelan sold 565 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the sale, the insider now directly owns 7,925 shares in the company, valued at $782,752.25. The trade was a 6.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Jeffrey Dossett sold 378 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $141.05, for a total value of $53,316.90. Following the transaction, the executive now owns 67,052 shares in the company, valued at $9,457,684.60. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,704 shares of company stock worth $1,925,748. Company insiders own 51.00% of the company's stock.

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Analysts Set New Price Targets

Several research firms recently commented on PI. Needham & Company LLC cut their price objective on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Cantor Fitzgerald upgraded Impinj to a "strong-buy" rating in a report on Thursday, February 27th. The Goldman Sachs Group cut their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. Finally, Susquehanna reduced their price target on Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research report on Wednesday, January 22nd. One 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.44.

Impinj Stock Performance

PI traded down $1.26 during trading on Monday, reaching $90.55. 166,785 shares of the stock were exchanged, compared to its average volume of 542,202. The stock's 50 day moving average price is $105.55 and its two-hundred day moving average price is $156.74. Impinj, Inc. has a twelve month low of $84.17 and a twelve month high of $239.88. The stock has a market cap of $2.58 billion, a P/E ratio of 66.56 and a beta of 1.98.

Impinj (NASDAQ:PI - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) 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%. Equities research analysts predict that Impinj, Inc. will post -0.47 earnings per share 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.