Prudential PLC Has $227,000 Stock Position in Impinj, Inc. (NASDAQ:PI)

Prudential PLC lessened its holdings in Impinj, Inc. (NASDAQ:PI) by 59.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,446 shares of the company’s stock after selling 2,079 shares during the quarter. Prudential PLC’s holdings in Impinj were worth $227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PI. Future Financial Wealth Managment LLC bought a new stake in shares of Impinj during the 1st quarter valued at approximately $32,000. SouthState Corp acquired a new stake in Impinj in the second quarter valued at approximately $94,000. nVerses Capital LLC grew its stake in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after buying an additional 521 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its stake in shares of Impinj by 211.2% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after acquiring an additional 549 shares during the last quarter.

Impinj Price Performance

Shares of Impinj stock opened at $185.92 on Friday. The business has a 50-day simple moving average of $162.58 and a 200 day simple moving average of $148.96. Impinj, Inc. has a one year low of $48.39 and a one year high of $190.09. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of -531.20 and a beta of 1.78.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $102.50 million during the quarter, compared to the consensus estimate of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. Impinj’s revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) EPS. On average, sell-side analysts expect that Impinj, Inc. will post 0.31 EPS for the current year.

Insider Transactions at Impinj

In other Impinj news, insider Cathal G. Phelan sold 212 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $147.52, for a total transaction of $31,274.24. Following the transaction, the insider now directly owns 16,669 shares in the company, valued at approximately $2,459,010.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Impinj news, insider Cathal G. Phelan sold 212 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $147.52, for a total value of $31,274.24. Following the completion of the sale, the insider now owns 16,669 shares in the company, valued at approximately $2,459,010.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Hussein Mecklai sold 495 shares of Impinj stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $149.90, for a total transaction of $74,200.50. Following the transaction, the chief operating officer now directly owns 56,170 shares in the company, valued at approximately $8,419,883. The disclosure for this sale can be found here. Insiders sold a total of 43,304 shares of company stock valued at $6,751,133 over the last ninety days. 51.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. The Goldman Sachs Group downgraded Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price objective for the company. in a research note on Monday, May 20th. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Evercore ISI increased their price objective on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Susquehanna lifted their target price on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and nine 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 a consensus price target of $187.10.

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.