Impinj, Inc. (NASDAQ:PI) Stake Cut by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust decreased its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 43.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,041 shares of the company's stock after selling 62,178 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.29% of Impinj worth $11,772,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital International Investors raised its position in Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock valued at $221,897,000 after purchasing an additional 473,721 shares during the last quarter. Norges Bank acquired a new position in Impinj during the fourth quarter worth $40,100,000. Raymond James Financial Inc. purchased a new position in Impinj in the fourth quarter valued at about $27,699,000. Price T Rowe Associates Inc. MD increased its stake in Impinj by 244.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 219,081 shares of the company's stock valued at $31,825,000 after purchasing an additional 155,543 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Impinj by 272.6% in the 4th quarter. Federated Hermes Inc. now owns 193,480 shares of the company's stock worth $28,105,000 after buying an additional 141,554 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts recently issued reports on PI shares. Cantor Fitzgerald restated an "overweight" rating and set a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Piper Sandler cut their price target on Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Evercore ISI upped their target price on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Needham & Company LLC lowered their price target 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Impinj currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.33.

Impinj Stock Up 4.1 %

Shares of PI stock traded up $3.87 on Friday, reaching $98.80. 552,814 shares of the stock were exchanged, compared to its average volume of 587,893. The stock has a market cap of $2.86 billion, a P/E ratio of 72.65 and a beta of 1.64. The firm has a 50 day moving average of $84.76 and a two-hundred day moving average of $131.53. Impinj, Inc. has a 1-year low of $60.85 and a 1-year high of $239.88.

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

Insider Buying and Selling at Impinj

In other news, insider Cathal G. Phelan sold 565 shares of Impinj stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.77, for a total transaction of $55,805.05. Following the sale, the insider now directly owns 7,925 shares of the company's stock, valued at approximately $782,752.25. The trade was a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Cary Baker sold 1,553 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now directly owns 76,451 shares of the company's stock, valued at $7,550,300.76. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,857 shares of company stock valued at $1,665,290 over the last three months. 51.00% of the stock is owned by company insiders.

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.