IFP Advisors Inc Increases Position in Impinj, Inc. (NASDAQ:PI)

IFP Advisors Inc raised its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 116.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368 shares of the company’s stock after buying an additional 198 shares during the period. IFP Advisors Inc’s holdings in Impinj were worth $53,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. National Bank of Canada FI bought a new stake in shares of Impinj during the third quarter valued at approximately $30,000. Farther Finance Advisors LLC raised its stake in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after acquiring an additional 141 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Impinj during the fourth quarter valued at approximately $87,000. KBC Group NV raised its stake in shares of Impinj by 33.5% during the fourth quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after acquiring an additional 228 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Impinj during the third quarter valued at approximately $138,000.

Insider Buying and Selling at Impinj

In related news, CFO Cary Baker sold 1,553 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the transaction, the chief financial officer now owns 76,451 shares in the company, valued at $7,550,300.76. This represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jeffrey Dossett sold 580 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 $84,714.80. Following the transaction, the executive now owns 66,180 shares of the company’s stock, valued at approximately $9,666,250.80. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,323 shares of company stock valued at $2,454,588. 51.00% of the stock is owned by insiders.

Impinj Price Performance

Shares of PI opened at $92.27 on Friday. The firm has a market capitalization of $2.63 billion, a PE ratio of 67.85 and a beta of 1.88. Impinj, Inc. has a 1-year low of $84.17 and a 1-year high of $239.88. The company’s fifty day moving average price is $122.39 and its 200-day moving average price is $164.97.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) 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%. As a group, research analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PI has been the subject of a number of recent research reports. Susquehanna reduced their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. 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 note on Thursday, February 6th. The Goldman Sachs Group reduced their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Finally, Piper Sandler reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $180.10.

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.