Ameriprise Financial Inc. Grows Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Ameriprise Financial Inc. grew its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 407,391 shares of the company's stock after purchasing an additional 13,264 shares during the period. Ameriprise Financial Inc. owned approximately 1.44% of Impinj worth $59,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in shares of Impinj in the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Impinj in the 4th quarter valued at about $33,000. Jones Financial Companies Lllp increased its position in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock valued at $38,000 after acquiring an additional 175 shares during the last quarter. IFP Advisors Inc grew its holdings in Impinj by 116.5% during the fourth quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after purchasing an additional 198 shares during the period. Finally, Spire Wealth Management bought a new position in Impinj during the fourth quarter worth about $87,000.

Insiders Place Their Bets

In other Impinj news, CEO Chris Ph.D. Diorio sold 8,334 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the transaction, the chief executive officer now owns 354,076 shares in the company, valued at approximately $34,975,627.28. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jeffrey Dossett sold 2,666 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $263,427.46. Following the completion of the transaction, the executive now owns 71,886 shares in the company, valued at $7,103,055.66. The trade was a 3.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,857 shares of company stock valued at $1,665,290 over the last three months. Insiders own 12.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler decreased their target price on Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Needham & Company LLC cut their price objective on shares of Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group dropped their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Finally, 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $155.38.

Impinj Stock Up 3.3%

Shares of NASDAQ PI traded up $4.03 during mid-day trading on Friday, reaching $125.78. 131,555 shares of the company were exchanged, compared to its average volume of 592,380. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88. The stock has a market capitalization of $3.65 billion, a PE ratio of 92.77 and a beta of 1.64. The company's 50 day moving average price is $87.10 and its 200 day moving average price is $126.11.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.12. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The company had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. During the same period in the previous year, the firm posted $0.21 EPS. The firm's revenue was down 3.3% compared to the same quarter last year. On average, sell-side analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current year.

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.