Vanguard Group Inc. Has $222.80 Million Holdings in Impinj, Inc. (NASDAQ:PI)

Vanguard Group Inc. trimmed its position in Impinj, Inc. (NASDAQ:PI) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,474,690 shares of the company’s stock after selling 63,362 shares during the quarter. Vanguard Group Inc. owned approximately 9.10% of Impinj worth $222,796,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Impinj by 2.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock worth $462,000 after acquiring an additional 115 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Impinj during the fourth quarter worth approximately $40,000. CWM LLC grew its position in Impinj by 7.6% during the fourth quarter. CWM LLC now owns 6,624 shares of the company’s stock valued at $596,000 after purchasing an additional 467 shares in the last quarter. UBS Group AG increased its stake in Impinj by 0.7% in the 4th quarter. UBS Group AG now owns 91,409 shares of the company’s stock valued at $8,230,000 after buying an additional 637 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Impinj in the 4th quarter valued at approximately $58,000.

Impinj Price Performance

NASDAQ:PI opened at $155.22 on Tuesday. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of -443.49 and a beta of 1.78. The company has a 50-day moving average of $157.62 and a 200-day moving average of $124.02. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $175.41. The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.14. The business had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. As a group, equities research analysts anticipate that Impinj, Inc. will post 0.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PI shares. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target on shares of Impinj in a report on Wednesday, June 5th. Canaccord Genuity Group boosted their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Jefferies Financial Group began coverage on shares of Impinj in a report on Monday, May 13th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, Susquehanna raised their target price on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $154.00.

Insider Transactions at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of Impinj stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $153.10, for a total value of $153,100,000.00. Following the completion of the transaction, the insider now owns 3,197,352 shares in the company, valued at approximately $489,514,591.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Cathal G. Phelan sold 212 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $147.52, for a total value of $31,274.24. Following the completion of the sale, the insider now owns 16,669 shares of the company’s stock, valued at $2,459,010.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $153.10, for a total value of $153,100,000.00. Following the transaction, the insider now directly owns 3,197,352 shares in the company, valued at approximately $489,514,591.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,088,088 shares of company stock valued at $166,194,846. Corporate insiders own 51.00% of the company’s stock.

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.