Impinj, Inc. (NASDAQ:PI) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. reduced its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 52.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,062 shares of the company’s stock after selling 87,288 shares during the period. Eagle Asset Management Inc. owned approximately 0.28% of Impinj worth $15,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new position in shares of Impinj in the 2nd quarter valued at $103,252,000. Renaissance Technologies LLC purchased a new position in shares of Impinj in the second quarter worth about $30,116,000. Principal Financial Group Inc. lifted 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 worth $27,202,000 after purchasing an additional 122,579 shares during the period. AXA S.A. acquired a new stake in shares of Impinj during the second quarter worth about $11,574,000. Finally, Squarepoint Ops LLC boosted its position in Impinj by 501.9% in the second quarter. Squarepoint Ops LLC now owns 69,232 shares of the company’s stock valued at $10,854,000 after buying an additional 57,730 shares during the last quarter.

Insider Activity

In related news, CRO Jeffrey Dossett sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the completion of the sale, the executive now directly owns 65,294 shares in the company, valued at approximately $11,829,313.98. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the purchase, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This trade represents a 14.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 655,674 shares of company stock worth $131,623,305 over the last three months. Insiders own 51.00% of the company’s stock.

Analyst Upgrades and Downgrades

PI has been the subject of several research reports. Susquehanna lifted their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. 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. Evercore ISI reissued an “outperform” rating and issued a $270.00 price objective (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Lake Street Capital lifted their price target on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Impinj Trading Up 1.5 %

PI stock opened at $191.04 on Friday. Impinj, Inc. has a 12-month low of $78.17 and a 12-month high of $239.88. The business’s 50-day moving average is $206.07 and its 200 day moving average is $176.56. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 214.65 and a beta of 1.81.

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

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.