Impinj, Inc. (NASDAQ:PI) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in Impinj, Inc. (NASDAQ:PI) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,658 shares of the company’s stock after buying an additional 500 shares during the period. New York State Common Retirement Fund’s holdings in Impinj were worth $1,112,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PI. Los Angeles Capital Management LLC raised its stake in shares of Impinj by 210.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after acquiring an additional 5,807 shares during the period. Nordea Investment Management AB acquired a new stake in Impinj in the 4th quarter valued at approximately $3,341,000. Thrivent Financial for Lutherans purchased a new stake in Impinj in the third quarter valued at approximately $3,872,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Impinj in the third quarter valued at approximately $846,000. Finally, Intech Investment Management LLC acquired a new position in Impinj during the third quarter worth $1,437,000.

Impinj Trading Down 9.2 %

Shares of PI stock opened at $87.73 on Tuesday. The company has a market cap of $2.50 billion, a P/E ratio of 64.51 and a beta of 1.88. The firm has a fifty day moving average price of $125.75 and a 200 day moving average price of $166.47. Impinj, Inc. has a 12 month low of $87.20 and a 12 month high of $239.88.

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 the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, equities analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Insider Buying and Selling at Impinj

In other Impinj news, insider Cathal G. Phelan sold 210 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $30,672.60. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Cary Baker sold 1,553 shares of Impinj stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the transaction, the chief financial officer now owns 76,451 shares in the company, valued at approximately $7,550,300.76. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,323 shares of company stock worth $2,454,588 over the last three months. Insiders own 51.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group decreased 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. Piper Sandler lowered their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC cut their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a report on Thursday, February 27th. Finally, StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $180.10.

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.