8,564 Shares in Impinj, Inc. (NASDAQ:PI) Purchased by Magnetar Financial LLC

Magnetar Financial LLC purchased a new stake in shares of Impinj, Inc. (NASDAQ:PI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,564 shares of the company’s stock, valued at approximately $1,244,000.

Several other large investors have also recently bought and sold shares of PI. Nordea Investment Management AB acquired a new stake in shares of Impinj in the fourth quarter valued at approximately $3,341,000. Thrivent Financial for Lutherans bought a new position in shares of Impinj during the third quarter worth approximately $3,872,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Impinj during the third quarter worth approximately $846,000. Intech Investment Management LLC bought a new position in shares of Impinj during the third quarter worth approximately $1,437,000. Finally, Mutual of America Capital Management LLC bought a new position in shares of Impinj during the third quarter worth approximately $742,000.

Insiders Place Their Bets

In other news, insider Cathal G. Phelan sold 565 shares of Impinj stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the transaction, the insider now directly owns 7,925 shares of the company’s stock, valued at approximately $782,752.25. This trade represents a 6.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Cary Baker sold 1,553 shares of Impinj stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now directly owns 76,451 shares of the company’s stock, valued at approximately $7,550,300.76. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,323 shares of company stock valued at $2,454,588. 51.00% of the stock is currently owned by company insiders.

Impinj Stock Down 4.3 %

NASDAQ PI opened at $90.05 on Friday. Impinj, Inc. has a twelve month low of $84.17 and a twelve month high of $239.88. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 66.21 and a beta of 1.98. The business’s fifty day moving average is $111.38 and its 200 day moving average is $160.12.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. The Goldman Sachs Group lowered their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald upgraded Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. Piper Sandler lowered their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Susquehanna lowered their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and an average target price of $183.44.

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.