MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 2,953 Shares of Impinj, Inc. (NASDAQ:PI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Impinj, Inc. (NASDAQ:PI) by 7.2% in the fourth quarter, HoldingsChannel reports. The firm owned 43,736 shares of the company’s stock after purchasing an additional 2,953 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Impinj were worth $6,353,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PI. Inspire Investing LLC increased its holdings in Impinj by 45.0% in the fourth quarter. Inspire Investing LLC now owns 2,752 shares of the company’s stock worth $400,000 after purchasing an additional 854 shares in the last quarter. Jamison Private Wealth Management Inc. increased its holdings in Impinj by 91.9% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 2,638 shares of the company’s stock worth $383,000 after purchasing an additional 1,263 shares in the last quarter. KBC Group NV increased its holdings in shares of Impinj by 33.5% during the fourth quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after acquiring an additional 228 shares in the last quarter. Stordahl Capital Management Inc. bought a new stake in shares of Impinj during the fourth quarter valued at approximately $363,000. Finally, Spire Wealth Management bought a new stake in shares of Impinj during the fourth quarter valued at approximately $87,000.

Insiders Place Their Bets

In other news, insider Cathal G. Phelan sold 565 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.77, for a total transaction of $55,805.05. Following the transaction, the insider now owns 7,925 shares of the company’s stock, valued at $782,752.25. This represents a 6.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the transaction, the chief executive officer now directly owns 354,076 shares in the company, valued at $34,975,627.28. This represents a 2.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,857 shares of company stock valued at $1,665,290. Insiders own 12.40% of the company’s stock.

Impinj Stock Up 2.7%

Shares of NASDAQ:PI opened at $125.05 on Friday. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 91.95 and a beta of 1.64. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88. The business’s 50 day moving average is $87.71 and its 200 day moving average is $125.13.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.12. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The company had revenue of $74.28 million for the quarter, compared to analysts’ expectations of $71.73 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Impinj’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

PI has been the subject of several recent research reports. Needham & Company LLC decreased their price objective on Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Piper Sandler decreased their price objective on Impinj from $140.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.38.

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.