Impinj, Inc. (NASDAQ:PI) Position Increased by SFE Investment Counsel

SFE Investment Counsel raised its stake in shares of Impinj, Inc. (NASDAQ:PI) by 30.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,377 shares of the company’s stock after buying an additional 2,170 shares during the period. SFE Investment Counsel’s holdings in Impinj were worth $844,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in shares of Impinj by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 8,583 shares of the company’s stock worth $937,000 after purchasing an additional 86 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Impinj by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock worth $462,000 after purchasing an additional 115 shares during the period. Royal Bank of Canada increased its stake in shares of Impinj by 5.8% in the third quarter. Royal Bank of Canada now owns 2,762 shares of the company’s stock worth $221,000 after purchasing an additional 151 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Impinj by 10.6% in the second quarter. Ameritas Investment Partners Inc. now owns 1,899 shares of the company’s stock worth $170,000 after purchasing an additional 182 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Impinj by 3.3% in the third quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock worth $355,000 after purchasing an additional 205 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Needham & Company LLC lifted their target price on Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Roth Mkm lifted their target price on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Susquehanna lifted their target price on Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Evercore ISI started coverage on Impinj in a research report on Tuesday. They set an “outperform” rating and a $160.00 target price on the stock. Finally, Canaccord Genuity Group lifted their price objective on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Impinj currently has an average rating of “Moderate Buy” and an average price target of $119.44.

Insider Activity

In related news, CFO Cary Baker sold 1,062 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $127.61, for a total value of $135,521.82. Following the completion of the transaction, the chief financial officer now owns 67,384 shares in the company, valued at approximately $8,598,872.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CRO Jeffrey Dossett sold 4,858 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.11, for a total value of $491,192.38. Following the completion of the transaction, the executive now owns 57,110 shares in the company, valued at approximately $5,774,392.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Cary Baker sold 1,062 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $127.61, for a total transaction of $135,521.82. Following the completion of the transaction, the chief financial officer now owns 67,384 shares of the company’s stock, valued at approximately $8,598,872.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 120,185 shares of company stock worth $12,767,674. Insiders own 17.10% of the company’s stock.

Impinj Price Performance

Shares of NASDAQ:PI traded up $1.59 during trading on Thursday, reaching $121.68. The stock had a trading volume of 193,462 shares, compared to its average volume of 366,869. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $142.70. The business’s 50-day moving average price is $115.86 and its 200 day moving average price is $91.51. The company has a debt-to-equity ratio of 8.26, a current ratio of 8.73 and a quick ratio of 5.59. The stock has a market capitalization of $3.37 billion, a PE ratio of -75.18 and a beta of 2.05.

Impinj (NASDAQ:PI) last posted its earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The company had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $67.10 million. As a group, equities analysts predict that Impinj, Inc. will post -0.62 earnings per share for the current year.

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.