Principal Financial Group Inc. Has $22.21 Million Holdings in Impinj, Inc. (NASDAQ:PI)

Principal Financial Group Inc. grew its stake in Impinj, Inc. (NASDAQ:PI) by 21.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,907 shares of the company’s stock after buying an additional 27,274 shares during the quarter. Principal Financial Group Inc. owned 0.54% of Impinj worth $22,211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Peregrine Investment Management Inc. acquired a new position in Impinj during the fourth quarter worth $3,777,000. New York State Teachers Retirement System boosted its holdings in Impinj by 43.1% during the fourth quarter. New York State Teachers Retirement System now owns 7,441 shares of the company’s stock worth $1,081,000 after purchasing an additional 2,241 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Impinj by 85.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company’s stock worth $174,000 after purchasing an additional 542 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Impinj by 248.8% during the fourth quarter. Van ECK Associates Corp now owns 4,928 shares of the company’s stock worth $716,000 after purchasing an additional 3,515 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in Impinj by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock worth $1,612,000 after purchasing an additional 100 shares during the last quarter.

Analyst Ratings Changes

PI has been the subject of several recent research reports. Cantor Fitzgerald reduced their target price on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. The Goldman Sachs Group dropped their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Needham & Company LLC dropped their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Susquehanna dropped their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.10.

Impinj Price Performance

Shares of PI opened at $96.75 on Monday. The firm has a market capitalization of $2.76 billion, a PE ratio of 71.14 and a beta of 1.88. The company’s 50-day moving average is $132.13 and its 200-day moving average is $169.02. Impinj, Inc. has a fifty-two week low of $96.69 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CRO Jeffrey Dossett sold 378 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.05, for a total transaction of $53,316.90. Following the transaction, the executive now directly owns 67,052 shares of the company’s stock, valued at approximately $9,457,684.60. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 approximately $48,482,457.84. This represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,466 shares of company stock valued at $789,298. 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.