Chevy Chase Trust Holdings LLC Lowers Stake in Impinj, Inc. (NASDAQ:PI)

Chevy Chase Trust Holdings LLC cut its position in Impinj, Inc. (NASDAQ:PI) by 10.8% in the second quarter, HoldingsChannel.com reports. The firm owned 913,210 shares of the company’s stock after selling 111,135 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Impinj were worth $143,164,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after acquiring an additional 35,893 shares during the last quarter. Capital International Investors purchased a new stake in shares of Impinj in the fourth quarter worth about $68,211,000. Assenagon Asset Management S.A. bought a new position in Impinj during the second quarter valued at approximately $103,252,000. Janus Henderson Group PLC grew its holdings in Impinj by 0.6% during the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after buying an additional 2,681 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in Impinj by 19.6% in the 4th quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock worth $18,435,000 after acquiring an additional 33,504 shares during the last quarter.

Insider Buying and Selling at Impinj

In related news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $153.10, for a total transaction of $153,100,000.00. Following the sale, the insider now directly owns 3,197,352 shares of the company’s stock, valued at $489,514,591.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Impinj news, CRO Jeffrey Dossett sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the completion of the sale, the executive now directly owns 63,642 shares in the company, valued at approximately $10,043,344.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $153.10, for a total value of $153,100,000.00. Following the completion of the transaction, the insider now owns 3,197,352 shares in the company, valued at approximately $489,514,591.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,049,127 shares of company stock worth $160,695,658. Insiders own 51.00% of the company’s stock.

Impinj Trading Down 3.3 %

Shares of PI traded down $5.30 during trading hours on Tuesday, hitting $157.63. The company had a trading volume of 257,395 shares, compared to its average volume of 435,911. Impinj, Inc. has a one year low of $48.39 and a one year high of $181.88. The company has a market capitalization of $4.43 billion, a PE ratio of -450.37 and a beta of 1.78. The company’s fifty day moving average price is $156.87 and its two-hundred day moving average price is $141.06.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The business had revenue of $102.50 million during the quarter, compared to the consensus estimate of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.14) earnings per share. Analysts forecast that Impinj, Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on PI. Evercore ISI upped their price target on shares of Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and set a $205.00 price target on shares of Impinj in a report on Thursday, July 25th. Lake Street Capital increased their price objective on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Susquehanna increased their price target on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.10.

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.