Headlands Technologies LLC Acquires 1,907 Shares of Impinj, Inc. (NASDAQ:PI)

Headlands Technologies LLC raised its stake in shares of Impinj, Inc. (NASDAQ:PI) by 2,297.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,990 shares of the company’s stock after acquiring an additional 1,907 shares during the period. Headlands Technologies LLC’s holdings in Impinj were worth $289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB bought a new position in Impinj during the fourth quarter valued at approximately $3,341,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Impinj during the 3rd quarter valued at approximately $846,000. Asset Management One Co. Ltd. grew its holdings in shares of Impinj by 85.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company’s stock valued at $174,000 after purchasing an additional 542 shares in the last quarter. Geode Capital Management LLC increased its position in Impinj by 1.4% in the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after purchasing an additional 7,676 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in Impinj by 92.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock valued at $20,454,000 after purchasing an additional 67,510 shares in the last quarter.

Insider Transactions at Impinj

In related news, 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 value of $153,374.28. Following the completion of the sale, the chief financial officer now directly owns 76,451 shares of the company’s stock, valued at $7,550,300.76. This represents a 1.99 % 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 8,334 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.78, for a total transaction of $823,232.52. Following the transaction, the chief executive officer now directly owns 354,076 shares in the company, valued at $34,975,627.28. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,704 shares of company stock valued at $1,925,748. 51.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PI has been the topic of a number of research reports. Susquehanna reduced their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. The Goldman Sachs Group dropped their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald upgraded Impinj to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Piper Sandler dropped their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.44.

Impinj Stock Down 0.7 %

Shares of Impinj stock opened at $73.00 on Friday. The stock’s fifty day moving average is $100.18 and its two-hundred day moving average is $153.59. Impinj, Inc. has a 52 week low of $68.07 and a 52 week high of $239.88. The company has a market capitalization of $2.08 billion, a PE ratio of 53.68 and a beta of 1.74.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS 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%. As a group, research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share 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.