Peregrine Investment Management Inc. Purchases Shares of 26,000 Impinj, Inc. (NASDAQ:PI)

Peregrine Investment Management Inc. purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,000 shares of the company’s stock, valued at approximately $3,777,000. Impinj accounts for 2.2% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 23rd largest holding.

Several other institutional investors also recently modified their holdings of the business. Los Angeles Capital Management LLC raised its holdings in 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 purchasing an additional 5,807 shares during the last quarter. Nordea Investment Management AB bought a new position in Impinj during the fourth quarter worth $3,341,000. Thrivent Financial for Lutherans acquired a new position in Impinj in the third quarter valued at $3,872,000. Teachers Retirement System of The State of Kentucky bought a new stake in Impinj during the third quarter valued at $846,000. Finally, Intech Investment Management LLC acquired a new stake in Impinj during the 3rd quarter worth about $1,437,000.

Analysts Set New Price Targets

PI has been the topic of a number of recent analyst reports. Susquehanna dropped their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Piper Sandler cut their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Lake Street Capital lifted their price objective on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, Needham & Company LLC decreased their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $180.10.

Impinj Trading Up 0.3 %

Impinj stock opened at $103.82 on Friday. The firm’s fifty day moving average price is $137.62 and its two-hundred day moving average price is $170.28. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 76.34 and a beta of 1.88. Impinj, Inc. has a 1-year low of $97.77 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.69%. On average, research analysts forecast that Impinj, Inc. will post 1.05 EPS for the current year.

Insider Buying and Selling

In related news, CFO Cary Baker sold 499 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $72,883.94. Following the completion of the sale, the chief financial officer now directly owns 71,107 shares of the company’s stock, valued at approximately $10,385,888.42. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $30,672.60. Following the sale, the insider now owns 6,979 shares in the company, valued at $1,019,352.74. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,466 shares of company stock worth $789,298. 51.00% of the stock is 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.