Victory Capital Management Inc. Has $2.44 Million Stock Position in Impinj, Inc. (NASDAQ:PI)

Victory Capital Management Inc. lessened its holdings in Impinj, Inc. (NASDAQ:PI) by 37.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,562 shares of the company’s stock after selling 9,167 shares during the period. Victory Capital Management Inc. owned 0.06% of Impinj worth $2,440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PI. Charles Schwab Investment Management Inc. lifted its holdings in Impinj by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock worth $16,282,000 after purchasing an additional 6,810 shares during the last quarter. Level Four Advisory Services LLC acquired a new stake in shares of Impinj in the fourth quarter worth $478,000. UBS Group AG boosted its holdings in shares of Impinj by 0.7% during the 4th quarter. UBS Group AG now owns 91,409 shares of the company’s stock worth $8,230,000 after buying an additional 637 shares during the period. Coldstream Capital Management Inc. acquired a new position in Impinj in the 4th quarter valued at $269,000. Finally, Trexquant Investment LP acquired a new position in Impinj in the 4th quarter valued at $1,569,000.

Insiders Place Their Bets

In other Impinj news, insider Cathal G. Phelan sold 212 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $147.52, for a total value of $31,274.24. Following the sale, the insider now directly owns 16,669 shares in the company, valued at $2,459,010.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Hussein Mecklai sold 416 shares of Impinj stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $175.43, for a total value of $72,978.88. Following the completion of the transaction, the chief operating officer now owns 58,104 shares in the company, valued at $10,193,184.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cathal G. Phelan sold 212 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $147.52, for a total value of $31,274.24. Following the sale, the insider now owns 16,669 shares in the company, valued at $2,459,010.88. The disclosure for this sale can be found here. Insiders sold a total of 36,762 shares of company stock worth $5,765,390 over the last quarter. Company insiders own 51.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PI shares. Piper Sandler upped their price target on shares of Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Evercore ISI increased their target price on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Susquehanna lifted their price target on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Impinj in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.10.

Impinj Price Performance

Shares of PI stock opened at $187.36 on Wednesday. Impinj, Inc. has a one year low of $48.39 and a one year high of $191.77. The stock has a fifty day moving average price of $163.53 and a 200 day moving average price of $150.67. The stock has a market cap of $5.19 billion, a P/E ratio of -535.31 and a beta of 1.78.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company had revenue of $102.50 million during the quarter, compared to the consensus estimate of $97.47 million. During the same period last year, the firm earned ($0.14) EPS. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. Equities research analysts anticipate that Impinj, Inc. will post 0.31 EPS for the current year.

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.