Blueshift Asset Management LLC Acquires Shares of 3,474 Impinj, Inc. (NASDAQ:PI)

Blueshift Asset Management LLC acquired a new stake in Impinj, Inc. (NASDAQ:PI) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 3,474 shares of the company’s stock, valued at approximately $505,000.

A number of other institutional investors have also recently bought and sold shares of PI. State Street Corp grew its stake in 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 purchasing an additional 220,776 shares during the period. Raymond James Financial Inc. bought a new position in shares of Impinj during the 4th quarter worth $27,699,000. Principal Financial Group Inc. grew its stake in shares of Impinj by 4,013.7% during the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after acquiring an additional 122,579 shares during the period. Wellington Management Group LLP bought a new position in shares of Impinj during the 3rd quarter worth $24,771,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of Impinj by 464.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 100,991 shares of the company’s stock worth $14,670,000 after acquiring an additional 83,107 shares during the period.

Impinj Stock Performance

Shares of PI opened at $90.05 on Friday. The stock’s 50-day simple moving average is $111.38 and its 200 day simple moving average is $160.12. Impinj, Inc. has a 52-week low of $84.17 and a 52-week high of $239.88. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 66.21 and a beta of 1.98.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on PI. Piper Sandler cut their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group cut their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC cut their price target on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Susquehanna dropped 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. Finally, StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $183.44.

Insider Buying and Selling at Impinj

In other news, insider Cathal G. Phelan sold 210 shares of the 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 transaction, the insider now directly owns 6,979 shares in the company, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jeffrey Dossett sold 580 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $84,714.80. Following the transaction, the executive now owns 66,180 shares in the company, valued at $9,666,250.80. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,323 shares of company stock valued at $2,454,588 in the last 90 days. Corporate insiders own 51.00% of the company’s stock.

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.