Pacific Sage Partners LLC Sells 106 Shares of Impinj, Inc. (NASDAQ:PI)

Pacific Sage Partners LLC reduced its holdings in Impinj, Inc. (NASDAQ:PI) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,252 shares of the company’s stock after selling 106 shares during the period. Pacific Sage Partners LLC’s holdings in Impinj were worth $488,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after purchasing an additional 35,893 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Impinj during the second quarter valued at approximately $103,252,000. Janus Henderson Group PLC boosted its stake in Impinj by 0.6% in the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after buying an additional 2,681 shares in the last quarter. Jennison Associates LLC acquired a new stake in Impinj in the 1st quarter valued at $25,747,000. Finally, Renaissance Technologies LLC acquired a new stake in Impinj in the 2nd quarter valued at $30,116,000.

Insider Transactions at Impinj

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction dated Friday, September 13th. The shares were bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Impinj news, CEO Chris Ph.D. Diorio sold 34,474 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $201.51, for a total transaction of $6,946,855.74. Following the transaction, the chief executive officer now owns 294,438 shares in the company, valued at $59,332,201.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the stock in a transaction on Friday, September 13th. The shares were bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 98,284 shares of company stock worth $19,783,007. Company insiders own 51.00% of the company’s stock.

Impinj Stock Performance

NASDAQ:PI opened at $189.99 on Friday. The company has a market cap of $5.37 billion, a PE ratio of 213.47 and a beta of 1.80. Impinj, Inc. has a 52-week low of $59.64 and a 52-week high of $239.88. The stock has a 50-day simple moving average of $199.27 and a 200 day simple moving average of $171.00.

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

Analyst Ratings Changes

PI has been the topic of a number of recent analyst reports. Cantor Fitzgerald boosted their price objective on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Needham & Company LLC boosted their price objective on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Roth Mkm upped their price target on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.