Alberta Investment Management Corp Sells 947 Shares of Impinj, Inc. (NASDAQ:PI)

Alberta Investment Management Corp lessened its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 9.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,524 shares of the company’s stock after selling 947 shares during the period. Alberta Investment Management Corp’s holdings in Impinj were worth $1,383,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PI. State Street Corp raised its position in shares of Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after acquiring an additional 220,776 shares during the period. Principal Financial Group Inc. increased its stake in Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after purchasing an additional 122,579 shares in the last quarter. Wellington Management Group LLP bought a new stake in Impinj in the third quarter valued at approximately $24,771,000. TimesSquare Capital Management LLC raised its holdings in Impinj by 92.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock worth $20,454,000 after purchasing an additional 67,510 shares during the period. Finally, FMR LLC boosted its position in shares of Impinj by 1.5% during the third quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after purchasing an additional 60,461 shares in the last quarter.

Insider Transactions at Impinj

In related news, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the transaction, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jeffrey Dossett sold 580 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $84,714.80. Following the transaction, the executive now directly owns 66,180 shares in the company, valued at approximately $9,666,250.80. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,466 shares of company stock worth $789,298 in the last 90 days. Corporate insiders own 51.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PI. Susquehanna cut their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. Piper Sandler cut their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald lowered their price objective on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC dropped their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $180.10.

Impinj Price Performance

Shares of NASDAQ:PI opened at $96.75 on Friday. The company’s 50-day moving average price is $133.21 and its two-hundred day moving average price is $168.90. Impinj, Inc. has a one year low of $96.69 and a one year high of $239.88. The stock has a market capitalization of $2.76 billion, a PE ratio of 71.14 and a beta of 1.88.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, analysts anticipate that Impinj, Inc. will post -0.47 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.