Stordahl Capital Management Inc. Makes New Investment in Impinj, Inc. (NASDAQ:PI)

Stordahl Capital Management Inc. acquired a new stake in Impinj, Inc. (NASDAQ:PI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,500 shares of the company’s stock, valued at approximately $363,000.

Other large investors have also modified their holdings of the company. Hsbc Holdings PLC lifted its position in shares of Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after buying an additional 190 shares during the last quarter. Xponance Inc. acquired a new position in Impinj in the second quarter valued at $224,000. Marshall Wace LLP grew its holdings in shares of Impinj by 366.1% during the second quarter. Marshall Wace LLP now owns 7,924 shares of the company’s stock worth $1,242,000 after purchasing an additional 6,224 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Impinj in the 2nd quarter valued at about $2,183,000. Finally, The Manufacturers Life Insurance Company raised its position in Impinj by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,753 shares of the company’s stock valued at $1,999,000 after purchasing an additional 317 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PI shares. The Goldman Sachs Group boosted their target price on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Cantor Fitzgerald boosted their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and issued a $235.00 price target (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Lake Street Capital upped their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $214.30.

Impinj Stock Performance

PI stock opened at $131.52 on Thursday. Impinj, Inc. has a 1 year low of $95.96 and a 1 year high of $239.88. The firm has a market cap of $3.72 billion, a P/E ratio of 147.78 and a beta of 1.88. The stock’s 50 day moving average price is $156.28 and its 200 day moving average price is $175.07.

Insider Activity at Impinj

In other news, CFO Cary Baker sold 499 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $72,883.94. Following the completion of the sale, the chief financial officer now directly owns 71,107 shares in the company, valued at $10,385,888.42. This represents a 0.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Chris Ph.D. Diorio sold 1,504 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.22, for a total value of $219,914.88. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 563,533 shares of company stock valued at $112,739,581. Company insiders own 51.00% of the company’s stock.

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.