UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 74,864 Shares of Impinj, Inc. (NASDAQ:PI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Impinj, Inc. (NASDAQ:PI) by 18.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 324,640 shares of the company’s stock after selling 74,864 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.15% of Impinj worth $70,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj during the 3rd quarter valued at about $54,000. SouthState Corp bought a new position in shares of Impinj during the 2nd quarter valued at approximately $94,000. nVerses Capital LLC increased its holdings in Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after acquiring an additional 300 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. raised its stake in Impinj by 211.2% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after acquiring an additional 549 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald increased their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Needham & Company LLC increased their price target on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Evercore ISI reissued an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Impinj currently has an average rating of “Moderate Buy” and an average price target of $224.60.

Insider Buying and Selling at Impinj

In related news, insider Cathal G. Phelan sold 209 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total value of $43,712.35. Following the sale, the insider now directly owns 17,647 shares of the company’s stock, valued at $3,690,870.05. This represents a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $181.17, for a total value of $1,358,775.00. Following the transaction, the executive now owns 65,294 shares of the company’s stock, valued at $11,829,313.98. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 655,674 shares of company stock worth $131,623,305 over the last ninety days. Company insiders own 51.00% of the company’s stock.

Impinj Stock Performance

PI stock opened at $187.55 on Tuesday. The firm has a fifty day moving average price of $205.53 and a 200 day moving average price of $178.02. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The firm has a market cap of $5.31 billion, a PE ratio of 210.73 and a beta of 1.81.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 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 business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same quarter last year, the business earned ($0.36) earnings per share. Impinj’s quarterly revenue was up 46.5% compared to the same quarter last year. On average, equities analysts predict that Impinj, Inc. will post 0.4 EPS for the current year.

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.