Geode Capital Management LLC Purchases 3,899 Shares of Impinj, Inc. (NASDAQ:PI)

Geode Capital Management LLC boosted its position in Impinj, Inc. (NASDAQ:PI) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 546,823 shares of the company’s stock after acquiring an additional 3,899 shares during the period. Geode Capital Management LLC owned 1.93% of Impinj worth $79,654,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PI. National Bank of Canada FI bought a new position in shares of Impinj during the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new position in Impinj during the 4th quarter valued at $33,000. Jones Financial Companies Lllp raised its holdings in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after purchasing an additional 175 shares in the last quarter. IFP Advisors Inc lifted its holdings in Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after buying an additional 198 shares during the period. Finally, Spire Wealth Management bought a new stake in shares of Impinj during the fourth quarter valued at approximately $87,000.

Insider Activity at Impinj

In related news, insider Cathal G. Phelan sold 565 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the sale, the insider now directly owns 7,925 shares in the company, valued at approximately $782,752.25. The trade was a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Chris Ph.D. Diorio sold 841 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $118,597.82. Following the completion of the transaction, the chief executive officer now owns 333,856 shares in the company, valued at $47,080,373.12. The trade was a 0.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock worth $1,925,748 over the last quarter. Company insiders own 51.00% of the company’s stock.

Impinj Price Performance

PI stock opened at $66.77 on Friday. The stock has a market capitalization of $1.91 billion, a P/E ratio of 49.10 and a beta of 1.74. Impinj, Inc. has a 1-year low of $60.85 and a 1-year high of $239.88. The business has a fifty day moving average price of $91.86 and a 200-day moving average price of $147.08.

Impinj (NASDAQ:PI) last issued its 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%. As a group, analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Piper Sandler lowered 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. Cantor Fitzgerald upgraded Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, The Goldman Sachs Group cut their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and a consensus 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.