CANADA LIFE ASSURANCE Co Reduces Holdings in Impinj, Inc. (NASDAQ:PI)

CANADA LIFE ASSURANCE Co cut its position in Impinj, Inc. (NASDAQ:PI) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,026 shares of the company’s stock after selling 1,013 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Impinj were worth $3,778,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Impinj during the 3rd quarter worth approximately $1,749,000. Principal Financial Group Inc. increased its stake in shares of Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after buying an additional 122,579 shares during the last quarter. Nordea Investment Management AB acquired a new stake in Impinj in the fourth quarter valued at $3,341,000. Diversified Trust Co boosted its stake in Impinj by 11.9% during the 4th quarter. Diversified Trust Co now owns 2,251 shares of the company’s stock valued at $327,000 after acquiring an additional 240 shares during the last quarter. Finally, Harbour Capital Advisors LLC grew its holdings in Impinj by 14.1% during the 4th quarter. Harbour Capital Advisors LLC now owns 3,445 shares of the company’s stock worth $521,000 after acquiring an additional 425 shares in the last quarter.

Impinj Stock Performance

PI stock opened at $91.51 on Friday. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 67.29 and a beta of 1.74. The stock’s fifty day moving average is $85.20 and its two-hundred day moving average is $137.75.

Impinj (NASDAQ:PI) last issued its quarterly earnings data 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%. As a group, analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Insider Transactions at Impinj

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value 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 $34,975,627.28. This trade represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Cary Baker sold 1,553 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was 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. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,857 shares of company stock worth $1,665,290. Company insiders own 51.00% of the company’s stock.

Analyst Upgrades and Downgrades

PI has been the topic of a number of recent analyst reports. Susquehanna cut their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Needham & Company LLC lowered their price objective on Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Piper Sandler lowered their price target on Impinj from $140.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $133.00 price objective on shares of Impinj in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.33.

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.