11,185 Shares in Impinj, Inc. (NASDAQ:PI) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in Impinj, Inc. (NASDAQ:PI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,185 shares of the company’s stock, valued at approximately $1,625,000.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Impinj by 1.5% in the third quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after buying an additional 60,461 shares in the last quarter. State Street Corp raised its holdings in shares of Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after purchasing an additional 220,776 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Impinj by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after buying an additional 7,676 shares during the last quarter. Jennison Associates LLC boosted its position in Impinj by 15.0% in the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after purchasing an additional 31,269 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Impinj by 10.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company’s stock worth $30,998,000 after buying an additional 20,158 shares during the last quarter.

Wall Street Analyst Weigh In

PI has been the subject of a number of research reports. Needham & Company LLC reduced their target price 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. Susquehanna decreased their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. The Goldman Sachs Group lowered their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, Piper Sandler lowered their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $183.44.

Impinj Stock Performance

Shares of Impinj stock opened at $94.06 on Thursday. The company has a fifty day moving average of $112.58 and a 200-day moving average of $160.61. Impinj, Inc. has a 52-week low of $84.17 and a 52-week high of $239.88. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 69.16 and a beta of 1.98.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share 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 forecast that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Impinj

In other news, CEO Chris Ph.D. Diorio sold 1,504 shares of the company’s 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 sale, the chief executive officer now directly owns 331,572 shares of the company’s stock, valued at $48,482,457.84. This represents a 0.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jeffrey Dossett sold 580 shares of the 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 completion of the transaction, the executive now owns 66,180 shares of the company’s stock, valued at approximately $9,666,250.80. The trade was a 0.87 % 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 quarter. Corporate insiders own 51.00% of the company’s stock.

About Impinj

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.