Allspring Global Investments Holdings LLC Cuts Stake in Impinj, Inc. (NASDAQ:PI)

Allspring Global Investments Holdings LLC lessened its position in Impinj, Inc. (NASDAQ:PI) by 6.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 363,032 shares of the company’s stock after selling 23,646 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.31% of Impinj worth $46,617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Impinj by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock valued at $16,282,000 after acquiring an additional 6,810 shares during the period. K.J. Harrison & Partners Inc purchased a new stake in Impinj during the fourth quarter worth about $1,458,000. Ghisallo Capital Management LLC acquired a new position in Impinj during the fourth quarter worth about $4,192,000. Eagle Asset Management Inc. increased its holdings in Impinj by 19.6% in the fourth quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after buying an additional 33,504 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Impinj during the 4th quarter worth approximately $5,739,000.

Insider Buying and Selling at Impinj

In other Impinj news, CRO Jeffrey Dossett sold 498 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $118.70, for a total transaction of $59,112.60. Following the completion of the sale, the executive now owns 60,850 shares of the company’s stock, valued at $7,222,895. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Impinj news, CRO Jeffrey Dossett sold 498 shares of Impinj stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $118.70, for a total transaction of $59,112.60. Following the transaction, the executive now directly owns 60,850 shares of the company’s stock, valued at $7,222,895. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $153.10, for a total transaction of $153,100,000.00. Following the completion of the sale, the insider now directly owns 3,197,352 shares of the company’s stock, valued at approximately $489,514,591.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,093,088 shares of company stock worth $166,964,996 in the last quarter. 51.00% of the stock is owned by insiders.

Impinj Stock Performance

NASDAQ PI opened at $159.87 on Thursday. The business’s 50-day moving average price is $159.10 and its 200 day moving average price is $124.76. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $175.41. The company has a market capitalization of $4.43 billion, a PE ratio of -456.77 and a beta of 1.78.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The business had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. On average, research analysts predict that Impinj, Inc. will post 0.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

PI has been the subject of several research reports. Canaccord Genuity Group lifted their price objective on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Evercore ISI began coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price objective for the company. Jefferies Financial Group assumed coverage on Impinj in a report on Monday, May 13th. They set a “buy” rating and a $200.00 target price on the stock. Susquehanna boosted their price target on Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a report on Tuesday, April 23rd. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Tuesday, May 21st. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $154.00.

About Impinj

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.