Impinj, Inc. (NASDAQ:PI) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS raised its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 220.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,936 shares of the company’s stock after buying an additional 2,709 shares during the period. DnB Asset Management AS’s holdings in Impinj were worth $572,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB purchased a new stake in Impinj during the fourth quarter valued at about $3,341,000. Teachers Retirement System of The State of Kentucky acquired a new position in Impinj in the 3rd quarter worth approximately $846,000. Asset Management One Co. Ltd. grew its position in Impinj by 85.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company’s stock worth $174,000 after purchasing an additional 542 shares in the last quarter. Geode Capital Management LLC raised its stake in Impinj by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after purchasing an additional 7,676 shares during the period. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of Impinj by 92.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock valued at $20,454,000 after purchasing an additional 67,510 shares in the last quarter.

Insider Transactions at Impinj

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the firm’s 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 of the company’s stock, valued at $34,975,627.28. This trade represents a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jeffrey Dossett sold 378 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $141.05, for a total transaction of $53,316.90. Following the sale, the executive now directly owns 67,052 shares in the company, valued at $9,457,684.60. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,704 shares of company stock valued at $1,925,748 over the last 90 days. 51.00% of the stock is owned by company insiders.

Impinj Stock Up 3.0 %

Shares of Impinj stock opened at $91.06 on Thursday. The stock has a market capitalization of $2.60 billion, a P/E ratio of 66.96 and a beta of 1.74. Impinj, Inc. has a 12-month low of $83.53 and a 12-month high of $239.88. The company has a 50-day simple moving average of $102.76 and a 200 day simple moving average of $154.94.

Impinj (NASDAQ:PI) last released its 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 net margin of 11.15% and a return on equity of 7.11%. On average, equities analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Analyst Ratings Changes

PI has been the topic of several recent analyst reports. Susquehanna dropped their price target on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Needham & Company LLC dropped their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Piper Sandler decreased their target price 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $183.44.

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.