Rhumbline Advisers Reduces Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Rhumbline Advisers lowered its holdings in Impinj, Inc. (NASDAQ:PI) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,190 shares of the company’s stock after selling 421 shares during the quarter. Rhumbline Advisers owned 0.22% of Impinj worth $8,888,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. National Bank of Canada FI purchased a new stake in Impinj in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC boosted its holdings in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after buying an additional 141 shares in the last quarter. Spire Wealth Management acquired a new stake in Impinj during the fourth quarter valued at $87,000. Asset Management One Co. Ltd. acquired a new stake in Impinj during the third quarter valued at $138,000. Finally, KBC Group NV increased its holdings in Impinj by 29.7% in the third quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after buying an additional 156 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PI. Susquehanna cut their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Piper Sandler dropped their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC reduced their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group decreased their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.10.

Impinj Stock Down 2.2 %

Shares of Impinj stock opened at $94.62 on Tuesday. The firm has a market cap of $2.70 billion, a PE ratio of 69.57 and a beta of 1.88. Impinj, Inc. has a 52 week low of $93.54 and a 52 week high of $239.88. The business’s fifty day simple moving average is $131.02 and its 200-day simple moving average is $168.64.

Impinj (NASDAQ:PI) last released its quarterly earnings results 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%. As a group, equities analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current year.

Insider Buying and Selling at Impinj

In other Impinj news, CFO Cary Baker sold 499 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $72,883.94. Following the sale, the chief financial officer now owns 71,107 shares in the company, valued at $10,385,888.42. This represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 1,504 shares of Impinj stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total value of $219,914.88. Following the completion of the transaction, the chief executive officer now owns 331,572 shares of the company’s stock, valued at $48,482,457.84. The trade was a 0.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,323 shares of company stock valued at $2,454,588 in the last three months. 51.00% of the stock is owned by corporate insiders.

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.