Emerald Advisers LLC Lowers Position in Impinj, Inc. (NASDAQ:PI)

Emerald Advisers LLC cut its position in shares of Impinj, Inc. (NASDAQ:PI) by 30.7% during the 4th quarter, HoldingsChannel reports. The firm owned 126,407 shares of the company’s stock after selling 56,074 shares during the period. Emerald Advisers LLC’s holdings in Impinj were worth $18,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PI. Vanguard Group Inc. increased its holdings in shares of Impinj by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock valued at $500,009,000 after acquiring an additional 104,861 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Impinj during the fourth quarter valued at approximately $921,000. KLP Kapitalforvaltning AS bought a new stake in shares of Impinj during the fourth quarter valued at approximately $683,000. Hillsdale Investment Management Inc. raised its holdings in Impinj by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock worth $3,586,000 after acquiring an additional 95 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in Impinj by 85.5% in the 4th quarter. Quantbot Technologies LP now owns 28,745 shares of the company’s stock valued at $4,175,000 after acquiring an additional 13,252 shares in the last quarter.

Impinj Price Performance

Shares of NASDAQ:PI opened at $90.25 on Friday. Impinj, Inc. has a 1-year low of $84.17 and a 1-year high of $239.88. The firm’s 50 day simple moving average is $110.31 and its two-hundred day simple moving average is $159.56. The company has a market capitalization of $2.58 billion, a P/E ratio of 66.36 and a beta of 1.98.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. On average, sell-side analysts anticipate 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. Susquehanna decreased their price target on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Needham & Company LLC dropped their price target 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. The Goldman Sachs Group decreased their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Finally, Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $183.44.

Insider Transactions at Impinj

In other news, CFO Cary Baker sold 1,553 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the sale, the chief financial officer now directly owns 76,451 shares in the company, valued at approximately $7,550,300.76. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the transaction, the chief executive officer now directly owns 354,076 shares in the company, valued at approximately $34,975,627.28. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,323 shares of company stock valued at $2,454,588. 51.00% of the stock is currently owned by company insiders.

About Impinj

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.