Assenagon Asset Management S.A. Sells 131,505 Shares of Impinj, Inc. (NASDAQ:PI)

Assenagon Asset Management S.A. decreased its stake in shares of Impinj, Inc. (NASDAQ:PI) by 76.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,346 shares of the company’s stock after selling 131,505 shares during the period. Assenagon Asset Management S.A. owned about 0.15% of Impinj worth $6,006,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Hsbc Holdings PLC grew its stake in shares of Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after acquiring an additional 190 shares during the period. Canada Pension Plan Investment Board purchased a new position in Impinj in the 2nd quarter valued at approximately $204,000. Xponance Inc. bought a new stake in Impinj during the 2nd quarter valued at $224,000. Marshall Wace LLP boosted its holdings in shares of Impinj by 366.1% in the second quarter. Marshall Wace LLP now owns 7,924 shares of the company’s stock worth $1,242,000 after acquiring an additional 6,224 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of Impinj in the second quarter valued at $372,000.

Insider Buying and Selling

In related news, COO Hussein Mecklai sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $204.75, for a total transaction of $2,047,500.00. Following the sale, the chief operating officer now owns 60,041 shares of the company’s stock, valued at $12,293,394.75. This represents a 14.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Cary Baker sold 290 shares of Impinj stock in a transaction on Monday, January 13th. The stock was sold at an average price of $140.96, for a total transaction of $40,878.40. Following the completion of the transaction, the chief financial officer now directly owns 71,754 shares of the company’s stock, valued at $10,114,443.84. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 655,038 shares of company stock valued at $131,064,693. 51.00% of the stock is owned by company insiders.

Impinj Stock Performance

Shares of Impinj stock opened at $131.94 on Monday. The company has a 50-day simple moving average of $163.27 and a two-hundred day simple moving average of $176.48. The stock has a market capitalization of $3.73 billion, a PE ratio of 148.25 and a beta of 1.88. Impinj, Inc. has a 52-week low of $91.86 and a 52-week high of $239.88.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm’s quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.36) earnings per share. As a group, equities research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

PI has been the topic of several analyst reports. The Goldman Sachs Group upped their price target on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Lake Street Capital raised their price target on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Cantor Fitzgerald lifted their price objective on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.30.

Impinj 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.