Allspring Global Investments Holdings LLC reduced its holdings in Impinj, Inc. (NASDAQ:PI – free report ) by 6.1% during the first quarter, according to the latest filing with the SEC. The company sold 23,646 shares during the period, giving it 363,032 shares of the company’s stock. Allspring Global Investments Holdings LLC held approximately 1.31% of Impinj, valued at $46,617,000, as of the end of the latest reporting period.
Other hedge funds and institutional investors also modified their holdings in the company. Charles Schwab Investment Management increased its holdings in Impinj by 3.9% in the fourth quarter. Charles Schwab Investment Management now owns 180,847 shares of the company’s stock, valued at $16,282,000, after acquiring an additional 6,810 shares during the period. KJ Harrison & Partners purchased a new stake in Impinj in the fourth quarter for approximately $1,458,000. Ghisallo Capital Management LLC acquired a new stake in Impinj in the fourth quarter for approximately $4,192,000. Eagle Asset Management increased its holdings in Impinj by 19.6% in the fourth quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after purchasing an additional 33,504 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in Impinj during the fourth quarter valued at approximately $5,739,000.
Insider Trading at Impinj
In other Impinj news, CRO Jeffrey Dossett sold 498 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $118.70, for a total transaction value of $59,112.60. Following the completion of the sale, the executive now owns 60,850 shares of the company’s stock, valued at $7,222,895. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Impinj news, CRO Jeffrey Dossett sold 498 shares of Impinj stock in a transaction on Monday, April 15th. The shares were sold at an average price of $118.70, for a total transaction value of $59,112.60. Following the transaction, the executive now directly owns 60,850 shares of the company’s stock, valued at $7,222,895. The sale was disclosed in a filing with the SEC, which can be found at this link. Additionally, the major shareholder, Sylebra Capital Llc, sold 1,000,000 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $153.10, for a total transaction value of $153,100,000.00. Following the completion of the sale, the insider now directly owns 3,197,352 shares of the company’s stock, valued at approximately $489,514,591.20. The disclosure for this sale can be found here. Insiders sold a total of 1,093,088 shares of the company’s stock in the last quarter, valued at $166,964,996. 51.00% of the stock is owned by insiders.
Impinj Stock Performance
NASDAQ PI opened trading at $159.87 on Thursday. The company’s 50-day moving average price is $159.10 and its 200-day moving average price is $124.76. The company’s current ratio is 9.42, quick ratio is 6.87 and debt-to-equity ratio is 3.29. Impinj, Inc.’s 12-month low is $48.39 and high is $175.41. The company has a market cap of $4.43 billion, a P/E ratio of -456.77 and a beta of 1.78.
Impinj (NASDAQ:PI – get free report ) last released its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.14. Impinj had a net margin of -1.90% and a return on equity of -60.13%. The company’s quarterly revenue of $76.83 million beat analyst expectations of $73.57 million. On average, research analysts expect Impinj, Inc. to post earnings per share of $0.02 for the year.
Analyst upgrades and downgrades
PI has been the subject of multiple research reports. Canaccord Genuity Group increased their price target on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Evercore ISI began covering shares of Impinj in a research note on Tuesday, April 16th. The firm set an “outperform” rating and a $160.00 price target for the company. Jefferies Financial Group began covering Impinj in a report on Monday, May 13th. The firm set a “buy” rating and a $200.00 price target for the stock. Susquehanna increased their price target on Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a report on Tuesday, April 23rd. Finally, StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research note on Tuesday, May 21. One analyst has rated the stock with a sell rating, one with a hold rating, and seven with a buy rating. According to MarketBeat data, the stock currently has an average rating of a “moderate buy” with an average target price of $154.00.
Check out our latest analysis for Impinj
About Impinj
(Free report)
Impinj, Inc. operates a cloud connectivity platform in the Americas, Asia Pacific, Europe, the Middle East, and Africa. The company’s platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform consists of endpoint ICs, small radio-on-chips that are attached to a host item and contain a number that identifies the item.
read more
Receive Impinj Daily news and reviews –Enter your email address below to receive a concise summary of the latest news and analyst ratings on Impinj and related companies every day via MarketBeat.com’s free email newsletter.
