EP Wealth Advisors LLC Boosts Stake in Impinj, Inc. (NASDAQ:PI)

EP Wealth Advisors LLC raised its position in Impinj, Inc. (NASDAQ:PI) by 19.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,623 shares of the company’s stock after buying an additional 267 shares during the period. EP Wealth Advisors LLC’s holdings in Impinj were worth $236,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PI. Capital International Investors increased its stake in shares of 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. Norges Bank purchased a new stake in shares of Impinj during the 4th quarter worth approximately $40,100,000. Raymond James Financial Inc. purchased a new stake in shares of Impinj during the 4th quarter worth approximately $27,699,000. Price T Rowe Associates Inc. MD increased its stake in shares of Impinj by 244.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 219,081 shares of the company’s stock worth $31,825,000 after purchasing an additional 155,543 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Impinj by 272.6% during the 4th quarter. Federated Hermes Inc. now owns 193,480 shares of the company’s stock worth $28,105,000 after purchasing an additional 141,554 shares during the last quarter.

Insider Activity

In related news, CEO Chris Ph.D. Diorio sold 8,334 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the transaction, the chief executive officer now owns 354,076 shares in the company, valued at $34,975,627.28. The trade was a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Hussein Mecklai sold 3,739 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $369,450.59. Following the transaction, the chief operating officer now owns 70,347 shares in the company, valued at approximately $6,950,987.07. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,857 shares of company stock valued at $1,665,290. Insiders own 12.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PI. Piper Sandler cut their price objective on shares of Impinj from $140.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th. Susquehanna cut their price objective 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. Finally, The Goldman Sachs Group cut their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. One research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.38.

Impinj Stock Up 8.8%

Shares of PI stock opened at $121.82 on Wednesday. The business has a 50-day moving average price of $86.26 and a two-hundred day moving average price of $126.72. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88. The firm has a market cap of $3.53 billion, a P/E ratio of 89.57 and a beta of 1.64.

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

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.