Corebridge Financial Inc. Has $1.77 Million Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Corebridge Financial Inc. decreased its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,210 shares of the company’s stock after selling 947 shares during the period. Corebridge Financial Inc.’s holdings in Impinj were worth $1,774,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Impinj by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock worth $500,009,000 after acquiring an additional 104,861 shares in the last quarter. State Street Corp increased its holdings in Impinj by 25.7% during the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after purchasing an additional 220,776 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Impinj by 1.4% in the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after purchasing an additional 7,676 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Impinj by 10.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company’s stock worth $30,998,000 after purchasing an additional 20,158 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Impinj by 5.3% in the fourth quarter. Royce & Associates LP now owns 208,864 shares of the company’s stock valued at $30,340,000 after purchasing an additional 10,594 shares in the last quarter.

Impinj Trading Up 3.0 %

PI opened at $91.06 on Thursday. Impinj, Inc. has a 12-month low of $83.53 and a 12-month high of $239.88. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 66.96 and a beta of 1.74. The stock has a fifty day simple moving average of $102.76 and a two-hundred day simple moving average of $154.94.

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

Analysts Set New Price Targets

PI has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald upgraded Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. Needham & Company LLC lowered their target price on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Susquehanna lowered their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $183.44.

Insider Activity

In related news, CRO Jeffrey Dossett sold 378 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $141.05, for a total transaction of $53,316.90. Following the completion of the transaction, the executive now directly owns 67,052 shares in the company, valued at approximately $9,457,684.60. The trade was a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Cary Baker sold 290 shares of the company’s stock in a transaction that occurred 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 owns 71,754 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 18,704 shares of company stock valued at $1,925,748 in the last 90 days. 51.00% of the stock is currently owned by insiders.

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.