Victory Capital Management Inc. Grows Stake in Impinj, Inc. (NASDAQ:PI)

Victory Capital Management Inc. increased its stake in Impinj, Inc. (NASDAQ:PI) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,825 shares of the company’s stock after acquiring an additional 1,363 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of Impinj worth $3,025,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Bank of Canada FI purchased a new position in Impinj in the third quarter worth about $30,000. SBI Securities Co. Ltd. purchased a new position in Impinj in the fourth quarter worth about $33,000. Jones Financial Companies Lllp grew its position in Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after acquiring an additional 175 shares in the last quarter. IFP Advisors Inc lifted its stake in Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after purchasing an additional 198 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in Impinj in the fourth quarter worth about $87,000.

Impinj Stock Performance

Impinj stock opened at $90.34 on Monday. The company has a 50 day moving average price of $116.06 and a 200-day moving average price of $162.14. Impinj, Inc. has a fifty-two week low of $84.17 and a fifty-two week high of $239.88. The company has a market capitalization of $2.58 billion, a PE ratio of 66.43 and a beta of 1.98.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Chris Ph.D. Diorio sold 1,504 shares of the business’s stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the chief operating officer now directly owns 60,830 shares in the company, valued at $8,885,438.10. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,323 shares of company stock valued at $2,454,588 over the last 90 days. Corporate insiders own 51.00% of the company’s stock.

Analyst Upgrades and Downgrades

PI has been the subject of several analyst reports. Piper Sandler decreased 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. Susquehanna decreased 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. The Goldman Sachs Group decreased 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, Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.44.

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.