Wasatch Advisors LP lessened its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 74.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,301 shares of the company's stock after selling 129,488 shares during the period. Wasatch Advisors LP owned about 0.16% of Impinj worth $9,592,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of PI. PDT Partners LLC bought a new stake in Impinj during the third quarter worth $2,413,000. Fred Alger Management LLC grew its holdings in Impinj by 16.9% during the third quarter. Fred Alger Management LLC now owns 121,117 shares of the company's stock worth $26,224,000 after purchasing an additional 17,515 shares during the period. Captrust Financial Advisors increased its position in Impinj by 2.2% during the third quarter. Captrust Financial Advisors now owns 13,170 shares of the company's stock worth $2,852,000 after buying an additional 284 shares during the last quarter. Public Sector Pension Investment Board bought a new stake in Impinj in the third quarter valued at approximately $10,458,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Impinj by 5.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,406 shares of the company's stock valued at $1,171,000 after buying an additional 262 shares during the last quarter.
Insider Buying and Selling
In other Impinj news, CFO Cary Baker sold 366 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78. Following the sale, the chief financial officer now owns 71,096 shares of the company's stock, valued at approximately $16,908,761.68. This represents a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 209 shares of the business's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total value of $43,712.35. Following the completion of the transaction, the insider now directly owns 17,647 shares in the company, valued at $3,690,870.05. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 655,674 shares of company stock valued at $131,623,305 over the last 90 days. 51.00% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on PI shares. Lake Street Capital increased their price objective on shares of Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Needham & Company LLC increased their price target on shares of Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Cantor Fitzgerald upped their target price on Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Finally, Evercore ISI reissued an "outperform" rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. One 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $224.60.
View Our Latest Stock Analysis on PI
Impinj Stock Performance
Shares of PI traded up $2.96 during mid-day trading on Friday, reaching $192.21. The company had a trading volume of 107,720 shares, compared to its average volume of 443,429. The company's 50 day simple moving average is $205.94 and its 200 day simple moving average is $177.89. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 215.97 and a beta of 1.81. 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 released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same quarter last year, the business posted ($0.36) EPS. Impinj's revenue for the quarter was up 46.5% on a year-over-year basis. As a group, equities analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.
Impinj Company Profile
(
Free Report)
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.
Recommended Stories
![Institutional Ownership by Quarter for Impinj (NASDAQ:PI)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NASDAQ&Symbol=PI)
Before you consider Impinj, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Impinj wasn't on the list.
While Impinj currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.