Quantbot Technologies LP Purchases 13,252 Shares of Impinj, Inc. (NASDAQ:PI)

Quantbot Technologies LP grew its holdings in Impinj, Inc. (NASDAQ:PI) by 85.5% in the fourth quarter, HoldingsChannel reports. The fund owned 28,745 shares of the company’s stock after buying an additional 13,252 shares during the period. Quantbot Technologies LP’s holdings in Impinj were worth $4,175,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PI. Blueshift Asset Management LLC acquired a new stake in Impinj during the fourth quarter worth approximately $505,000. Magnetar Financial LLC bought a new position in shares of Impinj in the fourth quarter worth $1,244,000. Xponance Inc. raised its stake in Impinj by 10.5% in the fourth quarter. Xponance Inc. now owns 1,660 shares of the company’s stock valued at $241,000 after purchasing an additional 158 shares in the last quarter. Intech Investment Management LLC grew its stake in Impinj by 94.3% during the fourth quarter. Intech Investment Management LLC now owns 12,896 shares of the company’s stock worth $1,873,000 after buying an additional 6,260 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Impinj by 464.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 100,991 shares of the company’s stock worth $14,670,000 after buying an additional 83,107 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PI shares. The Goldman Sachs Group cut their price target 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. Cantor Fitzgerald upgraded Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. Susquehanna decreased their price target on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Piper Sandler decreased their target price on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $183.44.

Insider Activity at Impinj

In other Impinj news, insider Cathal G. Phelan sold 210 shares of the company’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 sale, the insider now owns 6,979 shares of the company’s stock, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the transaction, the chief executive officer now directly owns 354,076 shares of the company’s stock, valued at approximately $34,975,627.28. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,323 shares of company stock worth $2,454,588 over the last three months. Company insiders own 51.00% of the company’s stock.

Impinj Trading Up 1.0 %

Shares of PI stock opened at $90.34 on Friday. The business’s 50-day moving average price is $116.06 and its 200-day moving average price is $162.17. Impinj, Inc. has a 12 month low of $84.17 and a 12 month high of $239.88. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 66.43 and a beta of 1.98.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share 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, sell-side analysts predict that Impinj, Inc. will post -0.47 earnings per share 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.