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

Ensign Peak Advisors Inc reduced its position in shares of 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 (SEC). The institutional investor owned 12,558 shares of the company's stock after selling 15,560 shares during the period. Ensign Peak Advisors Inc's holdings in Impinj were worth $1,824,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PI. Capital International Investors increased its stake in shares of Impinj by 45.0% in the fourth 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 in the last quarter. Norges Bank purchased a new position in shares of Impinj in the fourth quarter worth about $40,100,000. Raymond James Financial Inc. purchased a new position in shares of Impinj in the fourth quarter worth about $27,699,000. Price T Rowe Associates Inc. MD increased its stake in shares of Impinj by 244.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 219,081 shares of the company's stock worth $31,825,000 after purchasing an additional 155,543 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Impinj by 272.6% in the fourth quarter. Federated Hermes Inc. now owns 193,480 shares of the company's stock worth $28,105,000 after purchasing an additional 141,554 shares in the last quarter.

Impinj Price Performance

NASDAQ PI traded down $1.73 during mid-day trading on Monday, reaching $123.32. The stock had a trading volume of 394,599 shares, compared to its average volume of 594,218. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88. The stock has a market cap of $3.57 billion, a PE ratio of 90.68 and a beta of 1.64. The company has a fifty day moving average price of $87.71 and a 200 day moving average price of $124.68.

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

Analyst Upgrades and Downgrades

PI has been the subject of several recent analyst reports. Susquehanna reduced their price objective 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $133.00 price target on shares of Impinj in a report on Thursday, April 24th. StockNews.com lowered shares of Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. 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 report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their target price on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Impinj presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.38.

Insider Buying and Selling at Impinj

In other Impinj news, CFO Cary Baker sold 1,553 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the sale, the chief financial officer now directly owns 76,451 shares of the company's stock, valued at $7,550,300.76. This trade represents a 1.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Hussein Mecklai sold 3,739 shares of the 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,857 shares of company stock worth $1,665,290. Company insiders own 12.40% of the company's stock.

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.