Rhumbline Advisers Trims Stock Position in Impinj, Inc. (NASDAQ:PI)

Rhumbline Advisers decreased its stake in Impinj, Inc. (NASDAQ:PI) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,190 shares of the company’s stock after selling 421 shares during the period. Rhumbline Advisers’ holdings in Impinj were worth $8,888,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. National Bank of Canada FI purchased a new position in Impinj during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC boosted its holdings 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 valued at $33,000 after acquiring an additional 141 shares during the period. Spire Wealth Management purchased a new position in shares of Impinj during the fourth quarter worth approximately $87,000. KBC Group NV increased its holdings in shares of Impinj by 33.5% in the 4th quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after acquiring an additional 228 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new stake in Impinj in the 3rd quarter valued at $138,000.

Insiders Place Their Bets

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,504 shares of Impinj stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total transaction of $219,914.88. Following the completion of the transaction, the chief executive officer now owns 331,572 shares in the company, valued at approximately $48,482,457.84. The trade was a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Cary Baker sold 1,553 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the sale, the chief financial officer now directly owns 76,451 shares in the company, valued at $7,550,300.76. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,323 shares of company stock worth $2,454,588. 51.00% of the stock is owned by company insiders.

Impinj Price Performance

Impinj stock opened at $94.62 on Tuesday. The stock’s 50 day moving average price is $131.02 and its 200 day moving average price is $168.64. Impinj, Inc. has a 1-year low of $93.54 and a 1-year high of $239.88. The company has a market cap of $2.70 billion, a PE ratio of 69.57 and a beta of 1.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share 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%. On average, equities research analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Ratings Changes

PI has been the topic of several research reports. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Needham & Company LLC lowered their price target on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. The Goldman Sachs Group reduced their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Cantor Fitzgerald decreased their price objective on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Piper Sandler dropped their target price on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.10.

Impinj 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.