Wellington Management Group LLP Invests $24.77 Million in Impinj, Inc. (NASDAQ:PI)

Wellington Management Group LLP purchased a new position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 114,407 shares of the company's stock, valued at approximately $24,771,000. Wellington Management Group LLP owned 0.40% of Impinj at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC boosted its position in shares of Impinj by 210.2% during the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company's stock worth $1,855,000 after buying an additional 5,807 shares during the period. Thrivent Financial for Lutherans purchased a new position in Impinj during the 3rd quarter valued at about $3,872,000. Principal Financial Group Inc. grew its position in Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company's stock valued at $27,202,000 after acquiring an additional 122,579 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Impinj during the third quarter worth about $1,437,000. Finally, Raymond James & Associates lifted its position in shares of Impinj by 21.7% during the third quarter. Raymond James & Associates now owns 22,951 shares of the company's stock worth $4,969,000 after purchasing an additional 4,090 shares in the last quarter.

Insider Buying and Selling

In other news, insider Sylebra Capital Llc sold 2,550 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $195.41, for a total transaction of $498,295.50. Following the completion of the sale, the insider now owns 2,129,260 shares in the company, valued at $416,078,696.60. This represents a 0.12 % 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, CRO Jeffrey Dossett sold 7,500 shares of Impinj stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the completion of the transaction, the executive now owns 65,294 shares in the company, valued at approximately $11,829,313.98. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 655,674 shares of company stock worth $131,623,305 in the last quarter. 51.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PI shares. Evercore ISI restated an "outperform" rating and issued a $270.00 price objective (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Needham & Company LLC boosted their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Piper Sandler reiterated an "overweight" rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their target price on Impinj from $165.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Finally, StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $224.60.

Impinj Price Performance

Shares of NASDAQ PI traded down $7.81 during midday trading on Friday, hitting $150.98. 746,938 shares of the company's stock were exchanged, compared to its average volume of 476,722. The firm's fifty day simple moving average is $198.32 and its 200-day simple moving average is $177.86. The company has a market cap of $4.27 billion, a PE ratio of 169.64 and a beta of 1.80. Impinj, Inc. has a twelve month low of $78.17 and a twelve month high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company's revenue was up 46.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.36) EPS. Equities analysts anticipate that Impinj, Inc. will post 0.4 EPS 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.