Emerald Mutual Fund Advisers Trust Sells 62,178 Shares of Impinj, Inc. (NASDAQ:PI)

Emerald Mutual Fund Advisers Trust reduced its stake in Impinj, Inc. (NASDAQ:PI) by 43.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,041 shares of the company’s stock after selling 62,178 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.29% of Impinj worth $11,772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock valued at $500,009,000 after purchasing an additional 104,861 shares during the last quarter. Capital International Investors lifted its holdings in Impinj by 45.0% during the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock worth $221,897,000 after purchasing an additional 473,721 shares during the last quarter. Geode Capital Management LLC boosted its stake in Impinj by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 546,823 shares of the company’s stock valued at $79,654,000 after purchasing an additional 3,899 shares during the period. Norges Bank bought a new stake in shares of Impinj during the 4th quarter worth $40,100,000. Finally, Northern Trust Corp boosted its stake in Impinj by 6.4% in the fourth quarter. Northern Trust Corp now owns 250,938 shares of the company’s stock valued at $36,451,000 after buying an additional 15,009 shares in the last quarter.

Impinj Stock Down 0.7 %

NASDAQ PI opened at $90.84 on Tuesday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 66.79 and a beta of 1.74. The company has a 50-day simple moving average of $84.96 and a two-hundred day simple moving average of $135.44. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88.

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

Insider Transactions at Impinj

In other news, COO Hussein Mecklai sold 3,739 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $369,450.59. Following the transaction, the chief operating officer now directly owns 70,347 shares in the company, valued at $6,950,987.07. This trade represents a 5.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Cary Baker sold 1,553 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the sale, the chief financial officer now directly owns 76,451 shares of the company’s stock, valued at $7,550,300.76. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,857 shares of company stock valued at $1,665,290 in the last quarter. 51.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PI. Evercore ISI raised their price objective on Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $133.00 target price on shares of Impinj in a report on Thursday, April 24th. 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. Needham & Company LLC lowered their target price on shares of Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, 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 research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has assigned 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 an average target price of $160.33.

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.