Impinj, Inc. (NASDAQ:PI) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in Impinj, Inc. (NASDAQ:PI) by 76.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 41,346 shares of the company’s stock after selling 131,505 shares during the period. Assenagon Asset Management S.A.’s holdings in Impinj were worth $6,006,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. National Bank of Canada FI purchased a new stake in shares of Impinj during the third quarter worth approximately $30,000. Farther Finance Advisors LLC raised its position in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj in the third quarter worth about $54,000. Asset Management One Co. Ltd. acquired a new position in Impinj during the third quarter worth about $138,000. Finally, USA Financial Formulas grew its position in shares of Impinj by 82.0% in the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock valued at $142,000 after purchasing an additional 296 shares in the last quarter.

Insider Transactions at Impinj

In other Impinj news, COO Hussein Mecklai sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $204.75, for a total transaction of $2,047,500.00. Following the completion of the transaction, the chief operating officer now directly owns 60,041 shares in the company, valued at approximately $12,293,394.75. This trade represents a 14.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Sylebra Capital Llc sold 32,031 shares of Impinj stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total value of $6,257,255.85. Following the transaction, the insider now owns 3,021,548 shares of the company’s stock, valued at $590,259,401.80. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 655,038 shares of company stock worth $131,064,693 over the last ninety days. 51.00% of the stock is currently owned by company insiders.

Impinj Stock Down 0.4 %

PI stock opened at $131.94 on Monday. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 148.25 and a beta of 1.88. Impinj, Inc. has a fifty-two week low of $91.86 and a fifty-two week high of $239.88. The business has a 50 day moving average price of $163.27 and a 200 day moving average price of $176.48.

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

Analysts Set New Price Targets

Several research firms have recently commented on PI. The Goldman Sachs Group lifted their price target on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Thursday. Evercore ISI reissued an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Cantor Fitzgerald raised their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Impinj has an average rating of “Moderate Buy” and an average price target of $218.30.

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.