Impinj, Inc. (NASDAQ:PI) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Impinj, Inc. (NASDAQ:PI) by 4,013.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,633 shares of the company’s stock after buying an additional 122,579 shares during the quarter. Principal Financial Group Inc. owned approximately 0.45% of Impinj worth $27,202,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PI. Vanguard Group Inc. increased its holdings in Impinj by 1.5% in 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 last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Impinj during the second quarter valued at $103,252,000. Janus Henderson Group PLC increased its stake in shares of Impinj by 0.6% in the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after purchasing an additional 2,681 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Impinj during the second quarter worth approximately $30,116,000. Finally, Emerald Advisers LLC grew its holdings in Impinj by 8.2% in the 3rd quarter. Emerald Advisers LLC now owns 182,481 shares of the company’s stock worth $39,511,000 after buying an additional 13,884 shares in the last quarter.

Insider Buying and Selling

In other Impinj news, insider Cathal G. Phelan sold 209 shares of the company’s stock in a transaction dated 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 owns 17,647 shares in the company, valued at approximately $3,690,870.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Cary Baker sold 366 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $237.83, for a total value of $87,045.78. Following the transaction, the chief financial officer now directly owns 71,096 shares in the company, valued at $16,908,761.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cathal G. Phelan sold 209 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the sale, the insider now owns 17,647 shares in the company, valued at $3,690,870.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 646,301 shares of company stock worth $129,876,220 in the last ninety days. 51.00% of the stock is owned by insiders.

Impinj Stock Down 2.3 %

PI stock opened at $194.64 on Wednesday. Impinj, Inc. has a twelve month low of $69.50 and a twelve month high of $239.88. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 218.70 and a beta of 1.81. The business has a 50 day moving average price of $203.93 and a two-hundred day moving average price of $175.32.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter in the previous year, the company posted ($0.36) earnings per share. The business’s revenue was up 46.5% on a year-over-year basis. On average, equities research analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on PI. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. 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, October 24th. Lake Street Capital lifted their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Susquehanna upped their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Finally, Needham & Company LLC raised their price objective on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $224.60.

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.