Allspring Global Investments Holdings LLC Sells 23,646 Shares of Impinj, Inc. (NASDAQ:PI)

Allspring Global Investments Holdings LLC lowered its holdings in Impinj, Inc. (NASDAQ:PI) by 6.1% during the first quarter, HoldingsChannel.com reports. The fund owned 363,032 shares of the company’s stock after selling 23,646 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Impinj were worth $46,617,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PI. Future Financial Wealth Managment LLC bought a new stake in shares of Impinj in the 1st quarter worth about $32,000. GAMMA Investing LLC acquired a new position in shares of Impinj in the 4th quarter worth approximately $40,000. Headlands Technologies LLC bought a new stake in Impinj during the 4th quarter worth approximately $58,000. Whittier Trust Co. acquired a new stake in Impinj during the 4th quarter valued at $90,000. Finally, Avitas Wealth Management LLC acquired a new position in Impinj in the fourth quarter worth $238,000.

Analyst Ratings Changes

Several brokerages recently issued reports on PI. Susquehanna upped their price target on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research report on Tuesday, April 23rd. Piper Sandler reissued an “overweight” rating and set a $150.00 price target (up from $130.00) on shares of Impinj in a research note on Thursday, April 25th. Roth Mkm upped their price objective on Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Evercore ISI assumed coverage on Impinj in a research note on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price target on the stock. Finally, The Goldman Sachs Group cut Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price objective for the company. in a report on Monday, May 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $154.00.

Insider Buying and Selling at Impinj

In other Impinj news, insider Cathal G. Phelan sold 708 shares of Impinj stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $166.99, for a total value of $118,228.92. Following the transaction, the insider now owns 16,468 shares of the company’s stock, valued at $2,749,991.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Impinj news, CEO Chris Ph.D. Diorio sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $154.03, for a total transaction of $770,150.00. Following the completion of the transaction, the chief executive officer now owns 289,474 shares of the company’s stock, valued at approximately $44,587,680.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Cathal G. Phelan sold 708 shares of Impinj stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $166.99, for a total transaction of $118,228.92. Following the completion of the sale, the insider now owns 16,468 shares in the company, valued at $2,749,991.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,093,088 shares of company stock valued at $166,964,996. Company insiders own 51.00% of the company’s stock.

Impinj Stock Performance

Shares of PI stock opened at $159.87 on Thursday. The stock has a 50-day moving average of $159.10 and a 200-day moving average of $124.76. Impinj, Inc. has a one year low of $48.39 and a one year high of $175.41. The stock has a market cap of $4.43 billion, a PE ratio of -456.77 and a beta of 1.78. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87.

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

Impinj Company Profile

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.