Emerald Advisers LLC Has $18.36 Million Holdings in Impinj, Inc. (NASDAQ:PI)

Emerald Advisers LLC lowered its stake in shares of Impinj, Inc. (NASDAQ:PI) by 30.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 126,407 shares of the company’s stock after selling 56,074 shares during the period. Emerald Advisers LLC owned approximately 0.45% of Impinj worth $18,362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Impinj by 25.7% during the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after purchasing an additional 220,776 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Impinj in the 4th quarter worth approximately $27,699,000. Principal Financial Group Inc. grew its holdings in shares of Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after acquiring an additional 122,579 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Impinj during the third quarter valued at approximately $24,771,000. Finally, Vanguard Group Inc. increased its position in shares of Impinj by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock valued at $500,009,000 after acquiring an additional 104,861 shares during the last quarter.

Wall Street Analysts Forecast Growth

PI has been the subject of several research analyst reports. Piper Sandler decreased their target price on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Susquehanna decreased 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. The Goldman Sachs Group dropped their target price on shares of 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 shares of Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC dropped their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $183.44.

Impinj Price Performance

Shares of PI stock opened at $90.25 on Friday. The business has a 50-day moving average of $110.31 and a 200 day moving average of $159.56. The stock has a market capitalization of $2.58 billion, a PE ratio of 66.36 and a beta of 1.98. Impinj, Inc. has a 1-year low of $84.17 and a 1-year high of $239.88.

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

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 1,504 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.22, for a total transaction of $219,914.88. Following the transaction, the chief executive officer now directly owns 331,572 shares of the company’s stock, valued at approximately $48,482,457.84. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the transaction, the insider now owns 6,979 shares of the company’s stock, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,323 shares of company stock valued at $2,454,588. Insiders own 51.00% of the company’s stock.

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.