Ensign Peak Advisors Inc Sells 15,560 Shares of Impinj, Inc. (NASDAQ:PI)

Ensign Peak Advisors Inc lowered its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 55.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,558 shares of the company's stock after selling 15,560 shares during the quarter. Ensign Peak Advisors Inc's holdings in Impinj were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Impinj by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock valued at $500,009,000 after purchasing an additional 104,861 shares in the last quarter. Capital International Investors raised its holdings in shares of Impinj by 45.0% during the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock valued at $221,897,000 after buying an additional 473,721 shares during the period. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 3,899 shares during the period. Ameriprise Financial Inc. grew its position in Impinj by 3.4% in the fourth quarter. Ameriprise Financial Inc. now owns 407,391 shares of the company's stock valued at $59,178,000 after acquiring an additional 13,264 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Impinj during the fourth quarter valued at approximately $40,100,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler cut their price target on Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. The Goldman Sachs Group dropped their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $133.00 price objective on shares of Impinj in a research note on Thursday, April 24th. Finally, Susquehanna lowered their target price 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 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $155.38.

Insider Buying and Selling at Impinj

In related news, COO Hussein Mecklai sold 3,739 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 $369,450.59. Following the completion of the sale, the chief operating officer now directly owns 70,347 shares in the company, valued at approximately $6,950,987.07. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were 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 in the company, valued at approximately $34,975,627.28. This represents a 2.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,857 shares of company stock valued at $1,665,290. 12.40% of the stock is currently owned by corporate insiders.

Impinj Stock Down 0.7%

Impinj stock traded down $0.86 during midday trading on Wednesday, hitting $122.47. The company's stock had a trading volume of 47,689 shares, compared to its average volume of 590,887. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The stock's 50-day moving average price is $89.03 and its 200-day moving average price is $124.17. The company has a market capitalization of $3.55 billion, a PE ratio of 89.93 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last issued its earnings results 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 return on equity of 7.11% and a net margin of 11.15%. The business had revenue of $74.28 million for the quarter, compared to analysts' expectations of $71.73 million. During the same period in the previous year, the firm posted $0.21 EPS. The company's quarterly revenue was down 3.3% on a year-over-year basis. As a group, equities analysts anticipate that Impinj, Inc. will post -0.47 EPS 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.