Deutsche Bank AG Grows Stake in Impinj, Inc. (NASDAQ:PI)

Deutsche Bank AG raised its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 7.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,476 shares of the company's stock after buying an additional 8,001 shares during the quarter. Deutsche Bank AG owned about 0.42% of Impinj worth $17,210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Driehaus Capital Management LLC boosted its stake in Impinj by 176.0% during the fourth quarter. Driehaus Capital Management LLC now owns 213,714 shares of the company's stock valued at $31,044,000 after buying an additional 136,277 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Impinj by 19.7% during the 4th quarter. EP Wealth Advisors LLC now owns 1,623 shares of the company's stock valued at $236,000 after acquiring an additional 267 shares during the last quarter. Corton Capital Inc. purchased a new position in shares of Impinj during the fourth quarter worth about $330,000. Cetera Investment Advisers increased its position in shares of Impinj by 25.7% in the fourth quarter. Cetera Investment Advisers now owns 1,626 shares of the company's stock worth $236,000 after purchasing an additional 332 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in Impinj in the fourth quarter valued at approximately $2,275,000.

Impinj Price Performance

PI traded up $0.97 during trading on Tuesday, hitting $124.29. 38,407 shares of the stock traded hands, compared to its average volume of 592,020. The firm has a market capitalization of $3.60 billion, a P/E ratio of 91.40 and a beta of 1.64. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88. The firm has a 50-day moving average of $88.35 and a 200 day moving average of $124.18.

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

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 8,334 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the transaction, the chief executive officer now owns 354,076 shares of the company's stock, valued at approximately $34,975,627.28. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Cary Baker sold 1,553 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the transaction, the chief financial officer now owns 76,451 shares of the company's stock, valued at approximately $7,550,300.76. The trade was a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,857 shares of company stock worth $1,665,290 over the last quarter. 12.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on PI shares. Needham & Company LLC cut their target price on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Evercore ISI boosted their target price on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Susquehanna reduced their price target on shares of Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. Finally, Piper Sandler decreased their price target on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $155.38.

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.