SG Americas Securities LLC Sells 1,105 Shares of Impinj, Inc. (NASDAQ:PI)

SG Americas Securities LLC reduced its position in Impinj, Inc. (NASDAQ:PI) by 20.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,290 shares of the company’s stock after selling 1,105 shares during the period. SG Americas Securities LLC’s holdings in Impinj were worth $623,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PI. State Street Corp raised its stake in 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 buying an additional 220,776 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Impinj by 4,013.7% during the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after acquiring an additional 122,579 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Impinj in the 3rd quarter valued at approximately $24,771,000. FMR LLC boosted its stake in Impinj by 1.5% in the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after purchasing an additional 60,461 shares in the last quarter. Finally, Telemark Asset Management LLC purchased a new stake in Impinj during the 3rd quarter worth approximately $12,991,000.

Wall Street Analyst Weigh In

PI has been the subject of a number of research analyst reports. Needham & Company LLC decreased their price target on shares of Impinj from $245.00 to $182.00 and set a “buy” rating for the company in a report on Friday, January 17th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. The Goldman Sachs Group boosted their price target on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Cantor Fitzgerald raised their price objective on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $235.00 target price (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and an average price target of $214.30.

Impinj Trading Down 2.7 %

Shares of PI stock opened at $127.94 on Friday. Impinj, Inc. has a twelve month low of $95.96 and a twelve month high of $239.88. The stock has a market cap of $3.62 billion, a P/E ratio of 143.75 and a beta of 1.88. The stock has a 50 day moving average of $155.19 and a 200 day moving average of $174.77.

Insider Activity

In other Impinj news, insider Cathal G. Phelan sold 210 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $30,672.60. Following the sale, the insider now directly owns 6,979 shares of the company’s stock, valued at approximately $1,019,352.74. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $203.00, for a total value of $50,750,000.00. Following the completion of the sale, the insider now owns 2,222,352 shares of the company’s stock, valued at $451,137,456. This trade represents a 10.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 541,160 shares of company stock valued at $108,376,846 in the last three months. 51.00% of the stock is currently owned by corporate insiders.

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.