Impinj, Inc. (NASDAQ:PI) Stake Raised by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its holdings in Impinj, Inc. (NASDAQ:PI) by 43.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,441 shares of the company’s stock after acquiring an additional 2,241 shares during the quarter. New York State Teachers Retirement System’s holdings in Impinj were worth $1,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Creative Planning grew its stake in Impinj by 23.4% during the 3rd quarter. Creative Planning now owns 12,046 shares of the company’s stock valued at $2,608,000 after acquiring an additional 2,287 shares in the last quarter. Raymond James & Associates grew its stake in Impinj by 21.7% during the 3rd quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock valued at $4,969,000 after acquiring an additional 4,090 shares in the last quarter. Highland Capital Management LLC purchased a new position in Impinj during the 3rd quarter valued at about $222,000. Louisiana State Employees Retirement System purchased a new position in Impinj during the 3rd quarter valued at about $2,382,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Impinj by 157.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company’s stock valued at $2,009,000 after acquiring an additional 5,669 shares in the last quarter.

Impinj Stock Down 4.0 %

Shares of PI stock opened at $96.75 on Monday. Impinj, Inc. has a 12 month low of $96.69 and a 12 month high of $239.88. The firm has a market cap of $2.76 billion, a PE ratio of 71.14 and a beta of 1.88. The stock has a 50 day moving average of $132.13 and a 200-day moving average of $169.02.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald reduced their price target on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Needham & Company LLC reduced their price target on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Finally, Susquehanna reduced their price target on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $180.10.

Insider Activity

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,504 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was 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 in the company, valued at $48,482,457.84. This represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Jeffrey Dossett sold 580 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $84,714.80. Following the completion of the sale, the executive now owns 66,180 shares in the company, valued at $9,666,250.80. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,466 shares of company stock worth $789,298. Company insiders own 51.00% of the company’s stock.

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.