Ensign Peak Advisors Inc Reduces Stake in Impinj, Inc. (NASDAQ:PI)

Ensign Peak Advisors Inc reduced its stake in Impinj, Inc. (NASDAQ:PI) by 55.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,558 shares of the company’s stock after selling 15,560 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Impinj were worth $1,824,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PI. Asset Management One Co. Ltd. lifted its stake in Impinj by 85.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company’s stock worth $174,000 after acquiring an additional 542 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in Impinj by 92.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock worth $20,454,000 after acquiring an additional 67,510 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Impinj by 7.0% during the 4th quarter. Victory Capital Management Inc. now owns 20,825 shares of the company’s stock worth $3,025,000 after acquiring an additional 1,363 shares in the last quarter. KBC Group NV lifted its stake in Impinj by 33.5% during the 4th quarter. KBC Group NV now owns 909 shares of the company’s stock worth $132,000 after acquiring an additional 228 shares in the last quarter. Finally, Norges Bank acquired a new position in Impinj during the 4th quarter worth about $40,100,000.

Impinj Stock Up 0.2%

NASDAQ:PI opened at $121.75 on Friday. The stock’s 50 day moving average price is $87.10 and its 200 day moving average price is $126.11. The company has a market capitalization of $3.53 billion, a PE ratio of 89.52 and a beta of 1.64. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.12. The firm had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. As a group, sell-side analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PI shares. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Susquehanna reduced their price target on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Evercore ISI increased 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. Piper Sandler dropped their price objective on Impinj from $140.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $155.38.

Insider Buying and Selling

In other Impinj news, CFO Cary Baker sold 1,553 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.76, for a total value 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 trade represents a 1.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $369,450.59. Following the completion of the transaction, the chief operating officer now owns 70,347 shares in the company, valued at $6,950,987.07. This trade represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,857 shares of company stock worth $1,665,290 in the last quarter. 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.