Allspring Global Investments Holdings LLC Has $25.85 Million Position in Impinj, Inc. (NASDAQ:PI)

Allspring Global Investments Holdings LLC cut its holdings in Impinj, Inc. (NASDAQ:PI) by 6.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 176,191 shares of the company’s stock after selling 13,150 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Impinj were worth $25,852,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on PI shares. Susquehanna lowered their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Lake Street Capital raised their price target on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Piper Sandler cut their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Impinj presently has an average rating of “Moderate Buy” and a consensus price target of $180.10.

Impinj Price Performance

PI opened at $103.82 on Friday. The company has a market capitalization of $2.94 billion, a P/E ratio of 76.34 and a beta of 1.88. The firm’s fifty day moving average price is $137.62 and its two-hundred day moving average price is $170.28. Impinj, Inc. has a fifty-two week low of $97.77 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last issued its earnings results 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 7.69%. On average, equities research analysts expect that Impinj, Inc. will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling at Impinj

In other news, CEO Chris Ph.D. Diorio sold 1,504 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total value of $219,914.88. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cathal G. Phelan sold 210 shares of the company’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 completion of the sale, the insider now directly owns 6,979 shares in the company, valued at approximately $1,019,352.74. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,466 shares of company stock valued at $789,298. 51.00% of the stock is currently owned by corporate insiders.

About Impinj

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.