Assenagon Asset Management S.A. Sells 485,768 Shares of Impinj, Inc. (NASDAQ:PI)

Assenagon Asset Management S.A. trimmed its position in Impinj, Inc. (NASDAQ:PI) by 73.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,851 shares of the company’s stock after selling 485,768 shares during the period. Assenagon Asset Management S.A. owned about 0.61% of Impinj worth $37,426,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after buying an additional 35,893 shares during the period. Janus Henderson Group PLC grew its position in shares of Impinj by 0.6% during the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after acquiring an additional 2,681 shares during the period. Jennison Associates LLC purchased a new stake in shares of Impinj in the 1st quarter worth $25,747,000. Renaissance Technologies LLC bought a new position in Impinj in the 2nd quarter worth $30,116,000. Finally, Emerald Advisers LLC lifted its position in Impinj by 2.8% during the second quarter. Emerald Advisers LLC now owns 168,597 shares of the company’s stock valued at $26,431,000 after purchasing an additional 4,608 shares in the last quarter.

Insider Activity

In other news, CRO Jeffrey Dossett sold 488 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.84, for a total value of $116,065.92. Following the sale, the executive now owns 65,294 shares of the company’s stock, valued at approximately $15,529,524.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CRO Jeffrey Dossett sold 488 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.84, for a total transaction of $116,065.92. Following the transaction, the executive now owns 65,294 shares of the company’s stock, valued at approximately $15,529,524.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Cathal G. Phelan sold 209 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the sale, the insider now directly owns 17,647 shares of the company’s stock, valued at $3,690,870.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,779 shares of company stock valued at $3,825,046. 51.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. Susquehanna upped their price target on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday. StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Lake Street Capital upped their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald raised their price target on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research note on Thursday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.20.

Impinj Stock Down 13.6 %

Impinj stock opened at $192.21 on Friday. Impinj, Inc. has a 52-week low of $48.39 and a 52-week high of $239.88. The firm’s fifty day moving average is $195.60 and its 200 day moving average is $168.43. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 662.79 and a beta of 1.80.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The firm had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business’s revenue was up 46.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.36) EPS. On average, equities research analysts anticipate that Impinj, Inc. will post 0.31 earnings per share for the current fiscal year.

Impinj 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.