Royce & Associates LP Boosts Stake in Impinj, Inc. (NASDAQ:PI)

Royce & Associates LP grew its stake in Impinj, Inc. (NASDAQ:PI) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 208,864 shares of the company’s stock after buying an additional 10,594 shares during the period. Royce & Associates LP owned 0.74% of Impinj worth $30,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Nordea Investment Management AB purchased a new position in shares of Impinj during the fourth quarter worth $3,341,000. Thrivent Financial for Lutherans purchased a new position in shares of Impinj during the third quarter worth $3,872,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Impinj during the third quarter worth $846,000. Intech Investment Management LLC purchased a new position in shares of Impinj during the third quarter worth $1,437,000. Finally, Mutual of America Capital Management LLC purchased a new position in shares of Impinj during the third quarter worth $742,000.

Impinj Stock Up 1.0 %

Shares of NASDAQ PI opened at $90.34 on Friday. The company’s 50-day simple moving average is $116.06 and its 200-day simple moving average is $162.15. Impinj, Inc. has a 52-week low of $84.17 and a 52-week high of $239.88. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 66.43 and a beta of 1.98.

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

Insider Buying and Selling

In other Impinj news, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction dated Tuesday, December 24th. The shares were 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 of the company’s stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the transaction, the chief executive officer now directly owns 354,076 shares in the company, valued at $34,975,627.28. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,323 shares of company stock worth $2,454,588. 51.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on PI. Piper Sandler reduced their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Susquehanna dropped their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group dropped their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. 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 research report on Thursday, February 6th. Finally, Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and an average price target of $183.44.

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.