Voloridge Investment Management LLC Sells 191,527 Shares of Impinj, Inc. (NASDAQ:PI)

Voloridge Investment Management LLC lessened its holdings in Impinj, Inc. (NASDAQ:PI) by 81.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 45,019 shares of the company’s stock after selling 191,527 shares during the period. Voloridge Investment Management LLC’s holdings in Impinj were worth $6,539,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital International Investors lifted its holdings in shares of Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock worth $221,897,000 after buying an additional 473,721 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Impinj by 3,824.4% in the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company’s stock worth $63,310,000 after buying an additional 424,851 shares during the period. Norges Bank purchased a new stake in shares of Impinj in the 4th quarter worth $40,100,000. Point72 Asset Management L.P. purchased a new stake in shares of Impinj in the 4th quarter worth $30,697,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Impinj in the 4th quarter worth $27,699,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PI. The Goldman Sachs Group decreased their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Evercore ISI upped their price objective on Impinj from $99.00 to $117.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Piper Sandler decreased their price objective on Impinj from $140.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $133.00 price objective on shares of Impinj in a research note on Thursday, April 24th. Finally, Needham & Company LLC decreased their price objective on Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.38.

Impinj Price Performance

Shares of NASDAQ:PI opened at $112.00 on Monday. The business’s 50-day moving average is $90.43 and its 200 day moving average is $121.91. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88. The firm has a market capitalization of $3.25 billion, a P/E ratio of 82.35 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 (EPS) for the quarter, beating 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 company had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. During the same period in the prior year, the company posted $0.21 EPS. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Impinj 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.