Impinj, Inc. (NASDAQ:PI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its holdings in Impinj, Inc. (NASDAQ:PI) by 79.5% in the third quarter, Holdings Channel.com reports. The fund owned 20,992 shares of the company’s stock after selling 81,231 shares during the period. BNP Paribas Financial Markets’ holdings in Impinj were worth $4,545,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. First Bank & Trust lifted its position in shares of Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock valued at $383,000 after acquiring an additional 55 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. KBC Group NV boosted its position in shares of Impinj by 29.7% in the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after purchasing an additional 156 shares during the period. Hsbc Holdings PLC increased its stake in Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after purchasing an additional 190 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after buying an additional 248 shares during the period.

Insiders Place Their Bets

In other news, CRO Jeffrey Dossett sold 7,500 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the transaction, the executive now directly owns 65,294 shares in the company, valued at $11,829,313.98. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the stock in a transaction on Friday, September 13th. The shares were acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. The trade was a 14.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 655,674 shares of company stock valued at $131,623,305 in the last quarter. 51.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PI. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Evercore ISI reissued an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Needham & Company LLC lifted their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald increased their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Impinj Trading Up 0.4 %

NASDAQ:PI opened at $188.21 on Wednesday. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 211.47 and a beta of 1.80. The business’s 50-day moving average price is $205.04 and its two-hundred day moving average price is $178.12. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88.

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