Kennedy Capital Management LLC Sells 373 Shares of Impinj, Inc. (NASDAQ:PI)

Kennedy Capital Management LLC lowered its stake in shares of Impinj, Inc. (NASDAQ:PI) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,298 shares of the company’s stock after selling 373 shares during the period. Kennedy Capital Management LLC owned 0.10% of Impinj worth $3,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP bought a new stake in shares of Impinj in the third quarter worth about $24,771,000. EP Wealth Advisors LLC bought a new position in Impinj during the third quarter valued at approximately $294,000. National Bank of Canada FI purchased a new position in Impinj during the 3rd quarter valued at approximately $30,000. Geode Capital Management LLC increased its stake in Impinj by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after acquiring an additional 7,676 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Impinj during the 3rd quarter worth approximately $846,000.

Impinj Trading Up 1.3 %

Shares of NASDAQ:PI opened at $66.77 on Friday. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 49.10 and a beta of 1.74. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The firm’s 50-day moving average is $91.86 and its 200 day moving average is $147.08.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts forecast that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Cathal G. Phelan sold 565 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the sale, the insider now directly owns 7,925 shares of the company’s stock, valued at $782,752.25. This represents a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.78, for a total value of $823,232.52. Following the sale, the chief executive officer now owns 354,076 shares of the company’s stock, valued at approximately $34,975,627.28. This represents a 2.30 % decrease in their position. 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.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Piper Sandler dropped their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC decreased their target price 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. Susquehanna lowered their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group reduced their price objective 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $183.44.

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.