ARK & TLK Investments LLC Increases Stock Holdings in Impinj, Inc. (NASDAQ:PI)

ARK & TLK Investments LLC grew its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 30.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,150 shares of the company’s stock after purchasing an additional 500 shares during the period. ARK & TLK Investments LLC’s holdings in Impinj were worth $312,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Impinj by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock valued at $500,009,000 after acquiring an additional 104,861 shares in the last quarter. State Street Corp raised its position in Impinj by 25.7% in the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Impinj by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after buying an additional 7,676 shares during the period. Norges Bank purchased a new position in shares of Impinj in the 4th quarter valued at about $40,100,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Impinj by 10.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company’s stock worth $30,998,000 after buying an additional 20,158 shares in the last quarter.

Impinj Stock Performance

PI opened at $91.80 on Friday. The business’s 50-day simple moving average is $105.55 and its 200-day simple moving average is $156.90. The stock has a market capitalization of $2.62 billion, a P/E ratio of 67.50 and a beta of 1.98. Impinj, Inc. has a one year low of $84.17 and a one year high of $239.88.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, February 5th. The company reported ($0.01) 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 7.11%. On average, equities research analysts forecast that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PI has been the topic of several analyst reports. Susquehanna decreased their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. The Goldman Sachs Group decreased their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Piper Sandler cut their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.44.

Insider Buying and Selling

In other Impinj news, CRO Jeffrey Dossett sold 378 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $141.05, for a total transaction of $53,316.90. Following the completion of the transaction, the executive now owns 67,052 shares in the company, valued at approximately $9,457,684.60. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 565 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the sale, the insider now owns 7,925 shares of the company’s stock, valued at $782,752.25. This trade represents a 6.65 % decrease in their position. 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 quarter. 51.00% of the stock is currently owned by 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.