Impinj, Inc. (NASDAQ:PI) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 41.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,283 shares of the company's stock after purchasing an additional 7,647 shares during the quarter. Wells Fargo & Company MN owned about 0.09% of Impinj worth $3,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Impinj in the fourth quarter valued at approximately $33,000. Jones Financial Companies Lllp lifted its position in shares of Impinj by 205.9% during the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock valued at $38,000 after buying an additional 175 shares in the last quarter. IFP Advisors Inc grew its stake in Impinj by 116.5% in the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock valued at $53,000 after acquiring an additional 198 shares during the period. Spire Wealth Management purchased a new stake in Impinj in the 4th quarter worth $87,000. Finally, KBC Group NV increased its holdings in Impinj by 33.5% in the 4th quarter. KBC Group NV now owns 909 shares of the company's stock worth $132,000 after acquiring an additional 228 shares in the last quarter.

Insider Activity at Impinj

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the transaction, the chief executive officer now owns 354,076 shares in the company, valued at approximately $34,975,627.28. This represents a 2.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Hussein Mecklai sold 3,739 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the transaction, the chief operating officer now owns 70,347 shares of the company's stock, valued at $6,950,987.07. This represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,857 shares of company stock worth $1,665,290. Corporate insiders own 51.00% of the company's stock.

Analyst Ratings Changes

PI has been the topic of a number of research reports. The Goldman Sachs Group decreased their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $133.00 target price on shares of Impinj in a research report on Thursday. Susquehanna dropped 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. StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Finally, Evercore ISI upped their target price on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.

Impinj Price Performance

Shares of PI stock traded up $1.76 during trading on Friday, hitting $91.51. 814,975 shares of the stock traded hands, compared to its average volume of 589,159. The firm's fifty day moving average price is $85.20 and its 200-day moving average price is $137.75. The firm has a market capitalization of $2.61 billion, a P/E ratio of 67.29 and a beta of 1.74. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data 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 return on equity of 7.11% and a net margin of 11.15%. As a group, equities research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current year.

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.