Northern Trust Corp Raises Stake in Impinj, Inc. (NASDAQ:PI)

Northern Trust Corp lifted its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 250,938 shares of the company’s stock after buying an additional 15,009 shares during the period. Northern Trust Corp’s holdings in Impinj were worth $36,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PI. Hillsdale Investment Management Inc. lifted its stake in shares of Impinj by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock worth $3,586,000 after acquiring an additional 95 shares during the period. Louisiana State Employees Retirement System lifted its position in Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock valued at $1,612,000 after purchasing an additional 100 shares during the period. Cynosure Group LLC boosted its holdings in Impinj by 7.8% in the 4th quarter. Cynosure Group LLC now owns 1,953 shares of the company’s stock valued at $284,000 after purchasing an additional 142 shares in the last quarter. Xponance Inc. raised its stake in shares of Impinj by 10.5% during the 4th quarter. Xponance Inc. now owns 1,660 shares of the company’s stock worth $241,000 after buying an additional 158 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Impinj by 2.4% in the 4th quarter. Arizona State Retirement System now owns 6,945 shares of the company’s stock valued at $1,009,000 after buying an additional 160 shares during the period.

Wall Street Analyst Weigh In

PI has been the topic of a number of recent analyst reports. Needham & Company LLC dropped their price objective on Impinj from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $133.00 price target on shares of Impinj in a report on Thursday, April 24th. Susquehanna decreased their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. Evercore ISI increased their target price on shares of Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group decreased their price target 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $160.33.

Impinj Stock Up 2.2 %

NASDAQ PI opened at $100.00 on Friday. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88. The business has a fifty day moving average of $85.33 and a 200-day moving average of $128.48. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 73.53 and a beta of 1.64.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share 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 quarter in the previous year, the company posted $0.21 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current year.

Insider Buying and Selling

In related news, insider Cathal G. Phelan sold 565 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $782,752.25. The trade was a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cary Baker sold 1,553 shares of the 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 transaction, the chief financial officer now directly owns 76,451 shares in the company, valued at approximately $7,550,300.76. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,857 shares of company stock worth $1,665,290. 12.40% of the stock is owned by insiders.

Impinj Company 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.