Wellington Management Group LLP Trims Stake in Impinj, Inc. (NASDAQ:PI)

Wellington Management Group LLP cut its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 83.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,489 shares of the company’s stock after selling 95,918 shares during the quarter. Wellington Management Group LLP’s holdings in Impinj were worth $2,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. National Bank of Canada FI acquired a new position in Impinj in the third quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Impinj during the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp increased its holdings in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after purchasing an additional 175 shares during the last quarter. IFP Advisors Inc raised its position in Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock valued at $53,000 after purchasing an additional 198 shares during the period. Finally, Spire Wealth Management acquired a new position in Impinj during the fourth quarter worth $87,000.

Wall Street Analyst Weigh In

PI has been the topic of several research analyst reports. Piper Sandler cut their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. Susquehanna lowered their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. Needham & Company LLC cut their target price 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. Finally, The Goldman Sachs Group decreased their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $183.44.

Impinj Trading Up 1.3 %

Shares of NASDAQ:PI opened at $66.77 on Friday. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88. The company’s 50 day moving average is $91.86 and its two-hundred day moving average is $147.08. The company has a market cap of $1.91 billion, a PE ratio of 49.10 and a beta of 1.74.

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 net margin of 11.15% and a return on equity of 7.11%. As a group, equities research analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Insider Buying and Selling

In other Impinj news, CFO Cary Baker sold 290 shares of the business’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 value of $40,878.40. Following the completion of the sale, the chief financial officer now owns 71,754 shares in the company, valued at approximately $10,114,443.84. The trade was a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the transaction, the chief executive officer now owns 354,076 shares in the company, valued at approximately $34,975,627.28. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock worth $1,925,748 over the last 90 days. 51.00% of the stock is owned by insiders.

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.