Capital International Investors Raises Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Capital International Investors raised its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 45.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,527,587 shares of the company’s stock after buying an additional 473,721 shares during the quarter. Capital International Investors owned about 0.05% of Impinj worth $221,897,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in Impinj during the third quarter worth approximately $1,749,000. Principal Financial Group Inc. grew its holdings in Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after buying an additional 122,579 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Impinj during the fourth quarter worth about $3,341,000. Diversified Trust Co increased its holdings in shares of Impinj by 11.9% during the 4th quarter. Diversified Trust Co now owns 2,251 shares of the company’s stock worth $327,000 after buying an additional 240 shares during the last quarter. Finally, Harbour Capital Advisors LLC raised its position in Impinj by 14.1% in the fourth quarter. Harbour Capital Advisors LLC now owns 3,445 shares of the company’s stock valued at $521,000 after purchasing an additional 425 shares during the period.

Insider Buying and Selling

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the sale, the chief executive officer now owns 354,076 shares in the company, valued at approximately $34,975,627.28. The trade was a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 approximately $7,550,300.76. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,857 shares of company stock worth $1,665,290 over the last 90 days. 51.00% of the stock is owned by insiders.

Impinj Price Performance

PI stock opened at $68.67 on Friday. The business’s 50-day moving average is $87.58 and its two-hundred day moving average is $141.98. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88. The firm has a market capitalization of $1.96 billion, a P/E ratio of 50.49 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%. On average, analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on PI shares. Piper Sandler decreased their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC decreased their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Susquehanna dropped their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. The Goldman Sachs Group decreased their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. One 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $183.44.

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.