Axa S.A. Acquires 58,435 Shares of Impinj, Inc. (NASDAQ:PI)

AXA S.A. lifted its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 80.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 131,464 shares of the company's stock after buying an additional 58,435 shares during the quarter. AXA S.A. owned about 0.46% of Impinj worth $19,096,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nordea Investment Management AB bought a new stake in Impinj during the fourth quarter worth $3,341,000. Asset Management One Co. Ltd. grew its position in Impinj by 85.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company's stock valued at $174,000 after acquiring an additional 542 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in Impinj by 92.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company's stock worth $20,454,000 after acquiring an additional 67,510 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Impinj by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 20,825 shares of the company's stock worth $3,025,000 after acquiring an additional 1,363 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Impinj by 33.5% in the 4th quarter. KBC Group NV now owns 909 shares of the company's stock valued at $132,000 after purchasing an additional 228 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently issued reports on PI. Piper Sandler lowered their price objective on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group dropped their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Needham & Company LLC reduced their price objective on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Evercore ISI increased their target price on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Susquehanna reduced their price target on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $160.33.

Impinj Trading Up 0.1 %

PI stock traded up $0.14 during trading on Thursday, hitting $97.82. The company had a trading volume of 483,725 shares, compared to its average volume of 589,168. The stock has a market cap of $2.84 billion, a PE ratio of 71.93 and a beta of 1.64. The business has a 50-day moving average of $84.93 and a 200-day moving average of $130.22. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88.

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

Insider Activity at Impinj

In related news, COO Hussein Mecklai sold 3,739 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $369,450.59. Following the transaction, the chief operating officer now owns 70,347 shares of the company's stock, valued at approximately $6,950,987.07. This trade represents a 5.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 565 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the sale, the insider now directly owns 7,925 shares of the company's stock, valued at $782,752.25. This represents a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,857 shares of company stock worth $1,665,290 in the last 90 days. Corporate insiders own 12.40% of the company's stock.

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.