Aigen Investment Management LP Purchases Shares of 2,459 Impinj, Inc. (NASDAQ:PI)

Aigen Investment Management LP purchased a new stake in Impinj, Inc. (NASDAQ:PI) in the fourth quarter, HoldingsChannel reports. The fund purchased 2,459 shares of the company’s stock, valued at approximately $357,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new position in shares of Impinj during the 4th quarter worth about $1,625,000. Victory Capital Management Inc. lifted its holdings in shares of Impinj by 7.0% during the 4th quarter. Victory Capital Management Inc. now owns 20,825 shares of the company’s stock worth $3,025,000 after acquiring an additional 1,363 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Impinj by 10.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company’s stock worth $30,998,000 after acquiring an additional 20,158 shares during the period. Meridian Wealth Management LLC bought a new position in shares of Impinj during the 4th quarter worth about $291,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Impinj during the 4th quarter worth about $33,000.

Insider Buying and Selling at Impinj

In other news, CFO Cary Baker sold 499 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $72,883.94. Following the completion of the sale, the chief financial officer now owns 71,107 shares in the company, valued at $10,385,888.42. The trade was a 0.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the sale, the chief executive officer now owns 354,076 shares of the company’s stock, valued at approximately $34,975,627.28. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,323 shares of company stock worth $2,454,588. 51.00% of the stock is currently owned by corporate insiders.

Impinj Trading Up 8.9 %

PI opened at $100.45 on Friday. The stock has a market capitalization of $2.87 billion, a PE ratio of 73.86 and a beta of 1.98. Impinj, Inc. has a 1-year low of $84.17 and a 1-year high of $239.88. The firm has a 50-day moving average price of $121.44 and a two-hundred day moving average price of $164.58.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Susquehanna dropped their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC dropped their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.