Impinj, Inc. $PI Stock Position Reduced by Royce & Associates LP

Royce & Associates LP decreased its position in shares of Impinj, Inc. (NASDAQ:PI) by 15.2% during the third quarter, Holdings Channel reports. The institutional investor owned 172,175 shares of the company’s stock after selling 30,939 shares during the period. Royce & Associates LP’s holdings in Impinj were worth $30,869,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Russell Investments Group Ltd. lifted its position in shares of Impinj by 9.2% in the third quarter. Russell Investments Group Ltd. now owns 9,839 shares of the company’s stock valued at $1,764,000 after acquiring an additional 827 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Impinj by 1.3% in the third quarter. Fifth Third Bancorp now owns 8,871 shares of the company’s stock worth $1,591,000 after acquiring an additional 118 shares during the period. Maryland State Retirement & Pension System boosted its stake in shares of Impinj by 63.4% in the third quarter. Maryland State Retirement & Pension System now owns 6,468 shares of the company’s stock worth $1,160,000 after acquiring an additional 2,509 shares during the period. Lisanti Capital Growth LLC grew its position in shares of Impinj by 462.0% during the third quarter. Lisanti Capital Growth LLC now owns 31,445 shares of the company’s stock worth $5,638,000 after purchasing an additional 25,850 shares in the last quarter. Finally, Riverbridge Partners LLC grew its position in shares of Impinj by 4.0% during the third quarter. Riverbridge Partners LLC now owns 58,290 shares of the company’s stock worth $10,451,000 after purchasing an additional 2,262 shares in the last quarter.

Insider Transactions at Impinj

In related news, Director Miron Washington sold 800 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $173.26, for a total value of $138,608.00. Following the sale, the director owned 4,354 shares in the company, valued at approximately $754,374.04. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Cary Baker sold 8,892 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $185.00, for a total transaction of $1,645,020.00. Following the sale, the chief financial officer directly owned 80,388 shares in the company, valued at approximately $14,871,780. The trade was a 9.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 101,612 shares of company stock valued at $18,797,773 over the last quarter. 6.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on PI. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of Impinj in a research note on Thursday, July 30th. Barclays upped their price target on Impinj from $200.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Jefferies Financial Group increased their price objective on shares of Impinj from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 29th. BMO Capital Markets started coverage on shares of Impinj in a research report on Thursday, August 20th. They set an “outperform” rating and a $220.00 price objective on the stock. Finally, Susquehanna boosted their target price on shares of Impinj from $175.00 to $225.00 and gave the stock a “positive” rating in a report on Thursday, October 29th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and an average target price of $196.10.

Impinj Price Performance

Shares of NASDAQ:PI traded down $6.78 during mid-day trading on Friday, reaching $168.54. The stock had a trading volume of 214,015 shares, compared to its average volume of 429,345. The company has a current ratio of 9.42, a quick ratio of 7.07 and a debt-to-equity ratio of 0.61. The company has a market cap of $5.20 billion, a P/E ratio of -510.71 and a beta of 1.90. Impinj, Inc. has a 1 year low of $87.36 and a 1 year high of $215.25. The business’s 50 day moving average price is $178.18 and its 200 day moving average price is $144.68.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. The company had revenue of $112.08 million during the quarter, compared to analyst estimates of $107.16 million. Impinj had a positive return on equity of 6.65% and a negative net margin of 2.45%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 earnings per share. Research analysts expect that Impinj, Inc. will post 0.59 EPS for the current fiscal year.

Impinj Profile

Impinj, Inc. develops radio-frequency identification (RFID) technology used to identify and track items. Its platform is based on RAIN RFID, a wireless technology that enables businesses to collect item-level data without requiring direct line of sight. The company’s products include endpoint integrated circuits that are embedded in item tags, reader chips that capture tag data, and related systems and software. These technologies support applications such as inventory management, supply-chain visibility, asset tracking, and loss prevention across retail, logistics, healthcare, and other industries.