Allspring Global Investments Holdings LLC Sells 29,611 Shares of Impinj, Inc. (NASDAQ:PI)

Allspring Global Investments Holdings LLC reduced its stake in Impinj, Inc. (NASDAQ:PI) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,341 shares of the company’s stock after selling 29,611 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Impinj were worth $40,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in shares of Impinj during the second quarter valued at about $103,252,000. Jennison Associates LLC acquired a new position in shares of Impinj during the first quarter valued at about $25,747,000. Renaissance Technologies LLC acquired a new position in shares of Impinj during the second quarter valued at about $30,116,000. TimesSquare Capital Management LLC acquired a new position in shares of Impinj during the first quarter valued at about $19,195,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Impinj during the first quarter valued at about $9,659,000.

Impinj Stock Down 1.6 %

NASDAQ PI opened at $223.50 on Wednesday. The company’s 50 day moving average is $193.65 and its 200-day moving average is $167.88. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $239.88. The firm has a market cap of $6.28 billion, a P/E ratio of 770.69 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company had revenue of $102.50 million for the quarter, compared to analyst estimates of $97.47 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. Equities analysts expect that Impinj, Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

PI has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Impinj in a report on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and set a $205.00 price target on shares of Impinj in a report on Thursday, July 25th. Lake Street Capital boosted their price target on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Susquehanna lifted their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday. Finally, Roth Mkm lifted their price objective on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $196.10.

Insider Activity

In other Impinj news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the stock in a transaction dated Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Cary Baker sold 496 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total transaction of $103,748.32. Following the sale, the chief financial officer now directly owns 70,524 shares in the company, valued at $14,751,505.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,779 shares of company stock valued at $3,825,046 over the last quarter. Company insiders own 51.00% of the company’s stock.

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.