SFE Investment Counsel Lowers Stock Holdings in Impinj, Inc. (NASDAQ:PI)

SFE Investment Counsel lessened its stake in shares of Impinj, Inc. (NASDAQ:PI) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,140 shares of the company’s stock after selling 620 shares during the period. SFE Investment Counsel’s holdings in Impinj were worth $1,546,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PI. Assenagon Asset Management S.A. bought a new stake in shares of Impinj during the second quarter valued at approximately $103,252,000. Jennison Associates LLC purchased a new position in shares of Impinj in the first quarter worth $25,747,000. Renaissance Technologies LLC bought a new position in shares of Impinj during the second quarter valued at $30,116,000. TimesSquare Capital Management LLC purchased a new stake in shares of Impinj during the first quarter valued at $19,195,000. Finally, Lord Abbett & CO. LLC bought a new stake in Impinj in the 1st quarter worth about $9,659,000.

Impinj Stock Up 2.5 %

Shares of Impinj stock opened at $205.63 on Tuesday. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of -587.51 and a beta of 1.80. The stock’s 50-day simple moving average is $197.25 and its 200-day simple moving average is $170.16. Impinj, Inc. has a 52 week low of $58.56 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter last year, the business posted ($0.36) earnings per share. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, equities analysts expect that Impinj, Inc. will post 0.35 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Roth Mkm raised their price target on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Susquehanna lifted their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a report on Friday. Needham & Company LLC increased their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald upped their price target on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total transaction of $313,261.76. Following the sale, the chief executive officer now directly owns 292,532 shares of the company’s stock, valued at $61,174,291.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Chris Ph.D. Diorio sold 1,498 shares of Impinj stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total value of $313,261.76. Following the completion of the transaction, the chief executive officer now owns 292,532 shares in the company, valued at approximately $61,174,291.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 21,779 shares of company stock worth $3,825,046 over the last 90 days. Corporate insiders own 51.00% of the company’s stock.

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.