Impinj, Inc. (NASDAQ:PI) Stock Position Raised by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lifted its stake in shares of Impinj, Inc. (NASDAQ:PI) by 85.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,178 shares of the company’s stock after acquiring an additional 542 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Impinj were worth $174,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Los Angeles Capital Management LLC boosted its stake in shares of Impinj by 210.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock worth $1,855,000 after acquiring an additional 5,807 shares in the last quarter. Nordea Investment Management AB bought a new stake in shares of Impinj during the 4th quarter worth $3,341,000. Thrivent Financial for Lutherans bought a new stake in shares of Impinj during the 3rd quarter worth $3,872,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Impinj during the 3rd quarter worth $846,000. Finally, Intech Investment Management LLC bought a new stake in shares of Impinj during the 3rd quarter worth $1,437,000.

Impinj Trading Down 2.2 %

PI opened at $100.81 on Friday. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 74.13 and a beta of 1.88. Impinj, Inc. has a 1 year low of $97.77 and a 1 year high of $239.88. The stock has a fifty day moving average price of $133.21 and a 200 day moving average price of $168.90.

Impinj (NASDAQ:PI) last released 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 net margin of 11.15% and a return on equity of 7.11%. As a group, sell-side analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PI has been the subject of several research reports. Needham & Company LLC reduced their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Lake Street Capital raised their target price on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Piper Sandler decreased their target price on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.10.

Insider Buying and Selling at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,504 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.22, for a total transaction of $219,914.88. Following the transaction, the chief executive officer now directly owns 331,572 shares in the company, valued at $48,482,457.84. This trade represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Cary Baker sold 499 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $72,883.94. Following the transaction, the chief financial officer now owns 71,107 shares in the company, valued at approximately $10,385,888.42. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,466 shares of company stock worth $789,298 over the last three months. Corporate insiders own 51.00% of the company’s stock.

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.