Taylor Frigon Capital Management LLC Lowers Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Taylor Frigon Capital Management LLC decreased its position in shares of Impinj, Inc. (NASDAQ:PI) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,765 shares of the company’s stock after selling 2,487 shares during the period. Impinj makes up approximately 1.4% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 22nd largest holding. Taylor Frigon Capital Management LLC’s holdings in Impinj were worth $2,726,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its stake in shares of Impinj by 210.2% during the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after buying an additional 5,807 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of Impinj during the fourth quarter valued at about $3,341,000. Thrivent Financial for Lutherans bought a new position in shares of Impinj during the third quarter valued at about $3,872,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Impinj during the third quarter valued at about $846,000. Finally, Intech Investment Management LLC bought a new position in shares of Impinj during the third quarter valued at about $1,437,000.

Insider Buying and Selling at Impinj

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the transaction, the chief executive officer now directly owns 354,076 shares in the company, valued at approximately $34,975,627.28. This trade represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Cary Baker sold 499 shares of Impinj 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 $72,883.94. Following the transaction, the chief financial officer now owns 71,107 shares of the company’s stock, valued at $10,385,888.42. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,323 shares of company stock valued at $2,454,588. 51.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PI has been the topic of a number of recent research reports. Needham & Company LLC reduced 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. The Goldman Sachs Group cut their target price on 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 cut their target price on Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Susquehanna cut their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Finally, Piper Sandler cut their target price on Impinj from $235.00 to $140.00 and set an “overweight” 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 assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $180.10.

Impinj Stock Performance

Impinj stock opened at $96.28 on Thursday. The stock’s 50 day simple moving average is $129.92 and its two-hundred day simple moving average is $168.24. The stock 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 fifty-two week low of $91.99 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share 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, analysts predict that Impinj, Inc. will post -0.47 earnings per share 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.