Thrivent Financial for Lutherans Buys 83,107 Shares of Impinj, Inc. (NASDAQ:PI)

Thrivent Financial for Lutherans boosted its stake in shares of Impinj, Inc. (NASDAQ:PI) by 464.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,991 shares of the company’s stock after buying an additional 83,107 shares during the period. Thrivent Financial for Lutherans owned approximately 0.36% of Impinj worth $14,670,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Impinj by 1.5% in the third quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after buying an additional 60,461 shares in the last quarter. State Street Corp raised its holdings in Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after acquiring an additional 220,776 shares during the last quarter. Geode Capital Management LLC lifted its position in Impinj by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after acquiring an additional 7,676 shares in the last quarter. Jennison Associates LLC boosted its stake in Impinj by 15.0% during the 3rd quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock valued at $51,779,000 after purchasing an additional 31,269 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Impinj by 10.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company’s stock worth $30,998,000 after purchasing an additional 20,158 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently commented on PI. Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. 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 report on Thursday, February 6th. Piper Sandler reduced their price target 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. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Susquehanna cut their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned 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 target price of $183.44.

Insider Activity

In related news, insider Cathal G. Phelan sold 210 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the sale, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Hussein Mecklai sold 826 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.07, for a total value of $120,653.82. Following the completion of the transaction, the chief operating officer now directly owns 60,830 shares in the company, valued at approximately $8,885,438.10. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,323 shares of company stock worth $2,454,588 in the last three months. Company insiders own 51.00% of the company’s stock.

Impinj Stock Performance

NASDAQ PI opened at $90.25 on Friday. The business’s fifty day moving average is $110.31 and its 200 day moving average is $159.58. Impinj, Inc. has a fifty-two week low of $84.17 and a fifty-two week high of $239.88. The company has a market capitalization of $2.58 billion, a PE ratio of 66.36 and a beta of 1.98.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) 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, sell-side analysts forecast that Impinj, Inc. will post -0.47 EPS 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.