Legato Capital Management LLC Has $378,000 Stake in Impinj, Inc. (NASDAQ:PI)

Legato Capital Management LLC cut its position in shares of Impinj, Inc. (NASDAQ:PI) by 36.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,600 shares of the company’s stock after selling 1,485 shares during the quarter. Legato Capital Management LLC’s holdings in Impinj were worth $378,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp boosted its position in Impinj by 25.7% during the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after purchasing an additional 220,776 shares during 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 worth $27,202,000 after acquiring an additional 122,579 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Impinj in the 3rd quarter valued at about $24,771,000. FMR LLC increased its stake in shares of Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after purchasing an additional 60,461 shares during the last quarter. Finally, Telemark Asset Management LLC bought a new stake in shares of Impinj in the 3rd quarter valued at about $12,991,000.

Impinj Stock Performance

Shares of NASDAQ PI opened at $103.82 on Friday. The stock has a market capitalization of $2.96 billion, a P/E ratio of 76.34 and a beta of 1.88. The stock’s fifty day moving average is $138.85 and its 200 day moving average is $170.60. Impinj, Inc. has a 52 week low of $97.77 and a 52 week high of $239.88.

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 7.69%. Equities research analysts forecast that Impinj, Inc. will post 1.05 earnings per share for the current year.

Insiders Place Their Bets

In other Impinj news, COO Hussein Mecklai sold 338 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $47,664.76. Following the completion of the transaction, the chief operating officer now owns 61,586 shares of the company’s stock, valued at approximately $8,684,857.72. The trade was a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,504 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total transaction of $219,914.88. Following the completion of the sale, the chief executive officer now owns 331,572 shares in the company, valued at approximately $48,482,457.84. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,466 shares of company stock worth $789,298 over the last three months. Insiders own 51.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Susquehanna cut their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Piper Sandler reduced their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Lake Street Capital increased their target price on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald reduced their price target on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.10.

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.