Asset Management One Co. Ltd. Increases Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Asset Management One Co. Ltd. raised its position in shares of Impinj, Inc. (NASDAQ:PI) by 85.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,178 shares of the company’s stock after acquiring an additional 542 shares during the period. Asset Management One Co. Ltd.’s holdings in Impinj were worth $174,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its position in Impinj by 210.2% during the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after acquiring an additional 5,807 shares during the period. Nordea Investment Management AB purchased a new stake in Impinj during the fourth quarter valued at about $3,341,000. Thrivent Financial for Lutherans purchased a new stake in Impinj during the third quarter valued at about $3,872,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Impinj during the third quarter valued at about $846,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Impinj in the third quarter worth about $1,437,000.

Insider Buying and Selling at Impinj

In other news, COO Hussein Mecklai sold 826 shares of Impinj stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.07, for a total transaction of $120,653.82. Following the transaction, the chief operating officer now directly owns 60,830 shares in the company, valued at approximately $8,885,438.10. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 5,466 shares of company stock worth $789,298 over the last quarter. 51.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PI has been the subject of several analyst reports. Cantor Fitzgerald decreased their target price on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Lake Street Capital upped their target price on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group decreased their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.10.

Impinj Stock Performance

NASDAQ:PI opened at $100.81 on Friday. Impinj, Inc. has a one year low of $97.77 and a one year high of $239.88. The business’s 50-day simple moving average is $133.21 and its 200 day simple moving average is $168.90. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 74.13 and a beta of 1.88.

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 the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. On average, equities research analysts predict that Impinj, Inc. will post -0.47 EPS for the current year.

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.