Blueshift Asset Management LLC Takes Position in Impinj, Inc. (NASDAQ:PI)

Blueshift Asset Management LLC purchased a new stake in shares of Impinj, Inc. (NASDAQ:PI) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,474 shares of the company’s stock, valued at approximately $505,000.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Impinj by 25.1% during the third quarter. Victory Capital Management Inc. now owns 19,462 shares of the company’s stock worth $4,214,000 after acquiring an additional 3,900 shares during the last quarter. KBC Group NV raised its position in shares of Impinj by 29.7% during the third quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after acquiring an additional 156 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Impinj during the third quarter worth about $273,000. Mutual of America Capital Management LLC bought a new position in shares of Impinj during the third quarter worth about $742,000. Finally, Thrivent Financial for Lutherans bought a new position in shares of Impinj during the third quarter worth about $3,872,000.

Insider Activity

In related news, insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the sale, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.78, for a total value of $823,232.52. Following the sale, the chief executive officer now owns 354,076 shares of the company’s stock, valued at $34,975,627.28. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,323 shares of company stock worth $2,454,588 over the last quarter. 51.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Needham & Company LLC lowered their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Cantor Fitzgerald upgraded Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. The Goldman Sachs Group lowered their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Finally, Piper Sandler lowered their target price on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.44.

Impinj Stock Down 4.3 %

NASDAQ PI opened at $90.05 on Friday. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 66.21 and a beta of 1.98. Impinj, Inc. has a 52 week low of $84.17 and a 52 week high of $239.88. The business has a 50 day moving average price of $111.38 and a 200-day moving average price of $160.12.

Impinj (NASDAQ:PI) last released its quarterly earnings data 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 net margin of 11.15% and a return on equity of 7.11%. On average, equities research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Impinj Company 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.