Wasatch Advisors LP Sells 146,703 Shares of Impinj, Inc. (NASDAQ:PI)

Wasatch Advisors LP cut its holdings in Impinj, Inc. (NASDAQ:PIFree Report) by 28.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 377,617 shares of the company’s stock after selling 146,703 shares during the quarter. Wasatch Advisors LP owned about 1.40% of Impinj worth $33,997,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Impinj by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock valued at $462,000 after acquiring an additional 115 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Impinj during the fourth quarter worth $40,000. CWM LLC boosted its position in shares of Impinj by 7.6% during the fourth quarter. CWM LLC now owns 6,624 shares of the company’s stock worth $596,000 after purchasing an additional 467 shares in the last quarter. UBS Group AG boosted its position in shares of Impinj by 0.7% during the fourth quarter. UBS Group AG now owns 91,409 shares of the company’s stock worth $8,230,000 after purchasing an additional 637 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Impinj during the fourth quarter worth $58,000.

Insider Buying and Selling

In other Impinj news, CRO Jeffrey Dossett sold 3,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $121.72, for a total value of $365,160.00. Following the completion of the sale, the executive now owns 57,110 shares of the company’s stock, valued at approximately $6,951,429.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Hussein Mecklai sold 489 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $124.38, for a total transaction of $60,821.82. Following the completion of the sale, the chief operating officer now owns 52,533 shares of the company’s stock, valued at approximately $6,534,054.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Jeffrey Dossett sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $121.72, for a total transaction of $365,160.00. Following the sale, the executive now directly owns 57,110 shares of the company’s stock, valued at approximately $6,951,429.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,082,054 shares of company stock valued at $164,927,880. Company insiders own 51.00% of the company’s stock.

Impinj Stock Performance

Shares of Impinj stock traded down $2.27 during trading on Tuesday, hitting $146.21. 12,095 shares of the stock were exchanged, compared to its average volume of 438,893. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -424.23 and a beta of 1.80. The company has a fifty day moving average price of $148.79 and a 200-day moving average price of $116.95. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $175.41. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PIGet Free Report) last announced its earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.14. The business had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. As a group, equities analysts predict that Impinj, Inc. will post 0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price target on the stock. in a research report on Monday, May 20th. Susquehanna raised their price objective on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a report on Tuesday, April 23rd. Evercore ISI initiated coverage on shares of Impinj in a report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $195.00 price objective on shares of Impinj in a report on Wednesday, June 5th. Finally, Jefferies Financial Group initiated coverage on shares of Impinj in a report on Monday, May 13th. They set a “buy” rating and a $200.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and a consensus price target of $143.10.

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Impinj Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Impinj (NASDAQ:PI)

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