UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 74,864 Shares of Impinj, Inc. (NASDAQ:PI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Impinj, Inc. (NASDAQ:PI) by 18.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 324,640 shares of the company’s stock after selling 74,864 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Impinj were worth $70,291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PI. Public Sector Pension Investment Board purchased a new stake in shares of Impinj during the third quarter valued at about $10,458,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Impinj by 5.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,406 shares of the company’s stock worth $1,171,000 after purchasing an additional 262 shares during the last quarter. Cynosure Group LLC acquired a new position in shares of Impinj during the third quarter worth $392,000. D.A. Davidson & CO. lifted its holdings in shares of Impinj by 15.4% during the 3rd quarter. D.A. Davidson & CO. now owns 2,855 shares of the company’s stock valued at $618,000 after purchasing an additional 380 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after purchasing an additional 60,461 shares during the last quarter.

Insider Activity

In other news, CRO Jeffrey Dossett sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00. Following the transaction, the executive now owns 65,294 shares in the company, valued at $11,829,313.98. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This represents a 14.81 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 655,674 shares of company stock worth $131,623,305 over the last three months. 51.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PI shares. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Piper Sandler restated an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Needham & Company LLC upped their price target on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Susquehanna boosted their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Impinj has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Impinj Stock Performance

NASDAQ PI opened at $187.55 on Tuesday. The firm has a market capitalization of $5.31 billion, a P/E ratio of 210.73 and a beta of 1.81. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The stock has a 50-day simple moving average of $205.53 and a two-hundred day simple moving average of $178.02.

Impinj (NASDAQ:PI) last released 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. The company had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm’s revenue was up 46.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.36) earnings per share. As a group, analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current year.

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.