Deutsche Bank AG Raises Stock Position in Impinj, Inc. (NASDAQ:PI)

Deutsche Bank AG grew its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,476 shares of the company's stock after acquiring an additional 8,001 shares during the period. Deutsche Bank AG owned about 0.42% of Impinj worth $17,210,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock worth $500,009,000 after acquiring an additional 104,861 shares in the last quarter. Capital International Investors lifted its position in shares of Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after purchasing an additional 473,721 shares during the period. Geode Capital Management LLC lifted its position in shares of Impinj by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock worth $79,654,000 after purchasing an additional 3,899 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Impinj by 3.4% during the fourth quarter. Ameriprise Financial Inc. now owns 407,391 shares of the company's stock valued at $59,178,000 after purchasing an additional 13,264 shares in the last quarter. Finally, Norges Bank purchased a new position in Impinj during the fourth quarter valued at approximately $40,100,000.

Impinj Stock Performance

Impinj stock opened at $121.46 on Thursday. The stock has a 50-day moving average of $86.68 and a two-hundred day moving average of $126.69. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88. The stock has a market cap of $3.52 billion, a PE ratio of 89.31 and a beta of 1.64.

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, beating the consensus estimate of $0.09 by $0.12. The firm had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share. As a group, sell-side analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other Impinj news, CRO Jeffrey Dossett sold 2,666 shares of the firm's stock in a transaction that occurred on 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 directly owns 71,886 shares of the company's stock, valued at approximately $7,103,055.66. This trade represents a 3.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $369,450.59. Following the sale, the chief operating officer now owns 70,347 shares of the company's stock, valued at approximately $6,950,987.07. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,857 shares of company stock valued at $1,665,290. Insiders own 12.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Evercore ISI upped their target price on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Needham & Company LLC reduced their target price on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Susquehanna lowered their price target on shares of Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $155.38.

Impinj 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.

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