Janus Henderson Group PLC Buys 424,851 Shares of Impinj, Inc. (NASDAQ:PI)

Janus Henderson Group PLC boosted its stake in Impinj, Inc. (NASDAQ:PI) by 3,824.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 435,960 shares of the company’s stock after purchasing an additional 424,851 shares during the quarter. Janus Henderson Group PLC owned about 1.54% of Impinj worth $63,310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors increased its stake in shares of Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock valued at $221,897,000 after purchasing an additional 473,721 shares during the last quarter. Norges Bank bought a new position in Impinj in the fourth quarter valued at about $40,100,000. Raymond James Financial Inc. acquired a new position in Impinj during the fourth quarter worth about $27,699,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Impinj by 244.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 219,081 shares of the company’s stock worth $31,825,000 after acquiring an additional 155,543 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Impinj by 272.6% in the 4th quarter. Federated Hermes Inc. now owns 193,480 shares of the company’s stock valued at $28,105,000 after purchasing an additional 141,554 shares in the last quarter.

Impinj Price Performance

Shares of PI opened at $121.82 on Wednesday. The business has a 50-day moving average of $86.26 and a 200-day moving average of $126.72. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 89.57 and a beta of 1.64. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.12. The company had revenue of $74.28 million during the quarter, compared to analysts’ expectations of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. Impinj’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 earnings per share. As a group, sell-side analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current year.

Insider Activity at Impinj

In other news, COO Hussein Mecklai sold 3,739 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $369,450.59. Following the completion of the sale, the chief operating officer now directly owns 70,347 shares in the company, valued at $6,950,987.07. This trade represents a 5.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Cathal G. Phelan sold 565 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the transaction, the insider now directly owns 7,925 shares in the company, valued at approximately $782,752.25. This trade represents a 6.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,857 shares of company stock worth $1,665,290 in the last 90 days. Corporate insiders own 12.40% of the company’s stock.

Analysts Set New Price Targets

PI has been the subject of several research reports. The Goldman Sachs Group dropped their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC dropped their price target on Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Cantor Fitzgerald restated an “overweight” rating and set a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Evercore ISI lifted their price target on Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.38.

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.