State of Tennessee Department of Treasury Increases Holdings in Impinj, Inc. (NASDAQ:PI)

State of Tennessee Department of Treasury increased its position in Impinj, Inc. (NASDAQ:PI) by 48.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,950 shares of the company’s stock after buying an additional 3,880 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Impinj were worth $1,736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Impinj during the third quarter valued at about $1,749,000. Principal Financial Group Inc. boosted its holdings in Impinj by 4,013.7% during the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after acquiring an additional 122,579 shares during the period. Nordea Investment Management AB bought a new position in Impinj during the 4th quarter worth approximately $3,341,000. Diversified Trust Co increased its stake in Impinj by 11.9% in the 4th quarter. Diversified Trust Co now owns 2,251 shares of the company’s stock worth $327,000 after purchasing an additional 240 shares during the period. Finally, Harbour Capital Advisors LLC lifted its position in Impinj by 14.1% in the fourth quarter. Harbour Capital Advisors LLC now owns 3,445 shares of the company’s stock valued at $521,000 after purchasing an additional 425 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Impinj from $140.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC cut their price objective on Impinj from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Evercore ISI upped their target price on Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Susquehanna dropped their price target on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. Finally, StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Impinj has an average rating of “Moderate Buy” and a consensus target price of $160.33.

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 transaction of $823,232.52. Following the sale, the chief executive officer now owns 354,076 shares in the company, valued at $34,975,627.28. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $153,374.28. Following the completion of the transaction, the chief financial officer now owns 76,451 shares of the company’s stock, valued at approximately $7,550,300.76. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,857 shares of company stock valued at $1,665,290 in the last ninety days. 51.00% of the stock is currently owned by corporate insiders.

Impinj Trading Down 1.3 %

Shares of Impinj stock opened at $89.69 on Wednesday. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The firm has a market capitalization of $2.60 billion, a P/E ratio of 65.95 and a beta of 1.74. The business has a fifty day simple moving average of $84.74 and a two-hundred day simple moving average of $135.12.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. The company had revenue of $74.28 million during the quarter, compared to analysts’ expectations of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. Impinj’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the company posted $0.21 EPS. Analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current year.

About Impinj

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.