Pachira Investments Inc. Grows Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Pachira Investments Inc. grew its holdings in Impinj, Inc. (NASDAQ:PI) by 567.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,504 shares of the company’s stock after acquiring an additional 17,433 shares during the period. Impinj comprises approximately 1.8% of Pachira Investments Inc.’s holdings, making the stock its 16th biggest holding. Pachira Investments Inc. owned about 0.07% of Impinj worth $3,006,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Bank & Trust grew its holdings in Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock valued at $383,000 after purchasing an additional 55 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC lifted its stake in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares in the last quarter. KBC Group NV boosted its holdings in Impinj by 29.7% in the third quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after purchasing an additional 156 shares during the last quarter. Finally, Diversified Trust Co grew its stake in Impinj by 11.9% during the 4th quarter. Diversified Trust Co now owns 2,251 shares of the company’s stock valued at $327,000 after purchasing an additional 240 shares in the last quarter.

Impinj Stock Performance

Shares of PI opened at $104.84 on Tuesday. The firm has a fifty day moving average of $145.29 and a 200-day moving average of $172.30. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 77.09 and a beta of 1.88. Impinj, Inc. has a 1 year low of $97.77 and a 1 year high of $239.88.

Impinj (NASDAQ:PI) last posted 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 7.69%. Analysts predict that Impinj, Inc. will post 1.05 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PI. Cantor Fitzgerald cut their target price on Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Susquehanna dropped their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. The Goldman Sachs Group cut their target price 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. Finally, Needham & Company LLC decreased their price target on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $180.10.

Insider Activity at Impinj

In other Impinj news, COO Hussein Mecklai sold 338 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.02, for a total transaction of $47,664.76. Following the transaction, the chief operating officer now owns 61,586 shares of the company’s stock, valued at approximately $8,684,857.72. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Cary Baker sold 290 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $140.96, for a total transaction of $40,878.40. Following the completion of the sale, the chief financial officer now directly owns 71,754 shares of the company’s stock, valued at approximately $10,114,443.84. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,516 shares of company stock worth $2,646,368 in the last three months. 51.00% of the stock is owned by company insiders.

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.