Zurcher Kantonalbank Zurich Cantonalbank Has $919,000 Position in Impinj, Inc. (NASDAQ:PI)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Impinj, Inc. (NASDAQ:PI) by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,329 shares of the company’s stock after buying an additional 923 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Impinj were worth $919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PI. Victory Capital Management Inc. increased its stake in Impinj by 25.1% in the 3rd quarter. Victory Capital Management Inc. now owns 19,462 shares of the company’s stock valued at $4,214,000 after buying an additional 3,900 shares during the last quarter. KBC Group NV increased its stake in shares of Impinj by 29.7% during the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after purchasing an additional 156 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Impinj during the 3rd quarter worth about $273,000. Mutual of America Capital Management LLC acquired a new position in shares of Impinj during the 3rd quarter worth about $742,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of Impinj during the 3rd quarter worth about $3,872,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PI. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Needham & Company LLC lowered their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a report on Thursday, February 27th. Susquehanna reduced their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group reduced their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $183.44.

Insider Activity

In other news, CFO Cary Baker sold 1,553 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now directly owns 76,451 shares in the company, valued at approximately $7,550,300.76. The trade was a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the transaction, the insider now owns 6,979 shares of the company’s stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,323 shares of company stock worth $2,454,588. 51.00% of the stock is currently owned by corporate insiders.

Impinj Stock Down 4.3 %

NASDAQ PI opened at $90.05 on Friday. The company has a market capitalization of $2.57 billion, a P/E ratio of 66.21 and a beta of 1.98. Impinj, Inc. has a 12-month low of $84.17 and a 12-month high of $239.88. The firm has a 50-day moving average price of $111.38 and a two-hundred day moving average price of $160.12.

Impinj (NASDAQ:PI) last posted 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%. Equities analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

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.