Bank of New York Mellon Corp Sells 14,005 Shares of Impinj, Inc. (NASDAQ:PI)

Bank of New York Mellon Corp lessened its position in Impinj, Inc. (NASDAQ:PI) by 7.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 165,664 shares of the company’s stock after selling 14,005 shares during the period. Bank of New York Mellon Corp owned approximately 0.59% of Impinj worth $24,064,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new stake in Impinj in the third quarter valued at approximately $30,000. Farther Finance Advisors LLC grew its stake in Impinj by 1,084.6% in 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 during the period. IFP Advisors Inc boosted its position in shares of Impinj by 116.5% during the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock valued at $53,000 after buying an additional 198 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Impinj during the fourth quarter valued at approximately $87,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Impinj during the third quarter valued at approximately $138,000.

Impinj Trading Up 8.9 %

PI stock opened at $100.45 on Monday. The stock’s fifty day simple moving average is $121.44 and its two-hundred day simple moving average is $164.58. Impinj, Inc. has a 1-year low of $84.17 and a 1-year high of $239.88. The stock has a market cap of $2.87 billion, a P/E ratio of 73.86 and a beta of 1.98.

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

Insider Buying and Selling at Impinj

In related news, CFO Cary Baker sold 499 shares of the business’s stock in a transaction on 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 directly owns 71,107 shares in the company, valued at approximately $10,385,888.42. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of the business’s 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 sale, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,323 shares of company stock worth $2,454,588 over the last ninety days. 51.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PI. Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Needham & Company LLC cut their target price on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group cut their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Finally, Susquehanna cut their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Impinj has a consensus rating of “Moderate Buy” and an average 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.