K.J. Harrison & Partners Inc Sells 1,000 Shares of Impinj, Inc. (NASDAQ:PI)

K.J. Harrison & Partners Inc decreased its position in Impinj, Inc. (NASDAQ:PI) by 21.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,700 shares of the company’s stock after selling 1,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Impinj were worth $543,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its position in shares of Impinj by 25.7% during the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after buying an additional 220,776 shares in the last quarter. Principal Financial Group Inc. raised its position in Impinj by 4,013.7% during the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after purchasing an additional 122,579 shares during the period. Wellington Management Group LLP bought a new stake in shares of Impinj in the 3rd quarter valued at approximately $24,771,000. TimesSquare Capital Management LLC boosted its holdings in shares of Impinj by 92.1% in the 4th quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock worth $20,454,000 after purchasing an additional 67,510 shares during the period. Finally, FMR LLC increased its position in shares of Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after purchasing an additional 60,461 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Susquehanna dropped their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. Cantor Fitzgerald cut their price target on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Piper Sandler decreased their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC dropped their target price on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group reduced their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $180.10.

Insider Buying and Selling at Impinj

In other news, insider Cathal G. Phelan sold 210 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the sale, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jeffrey Dossett sold 580 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $84,714.80. Following the completion of the transaction, the executive now directly owns 66,180 shares of the company’s stock, valued at $9,666,250.80. The trade was a 0.87 % decrease in their ownership of the stock. 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. 51.00% of the stock is currently owned by insiders.

Impinj Stock Up 3.4 %

Shares of PI stock opened at $96.28 on Thursday. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 70.79 and a beta of 1.88. Impinj, Inc. has a 52-week low of $91.99 and a 52-week high of $239.88. The company’s 50 day moving average is $129.92 and its 200 day moving average is $168.24.

Impinj (NASDAQ:PI) last released its quarterly 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%. Analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal 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.