BNP Paribas Financial Markets Has $537,000 Stock Holdings in Impinj, Inc. (NASDAQ:PI)

BNP Paribas Financial Markets trimmed its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 82.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,697 shares of the company's stock after selling 17,295 shares during the period. BNP Paribas Financial Markets' holdings in Impinj were worth $537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PI. Capital International Investors grew its stake in Impinj by 45.0% during the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after buying an additional 473,721 shares in the last quarter. Norges Bank bought a new stake in Impinj during the fourth quarter worth $40,100,000. Raymond James Financial Inc. acquired a new stake in shares of Impinj in the 4th quarter valued at $27,699,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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. increased its stake in shares of Impinj by 272.6% in the 4th quarter. Federated Hermes Inc. now owns 193,480 shares of the company's stock valued at $28,105,000 after purchasing an additional 141,554 shares during the last quarter.

Impinj Stock Performance

Shares of Impinj stock traded up $0.68 on Thursday, hitting $115.56. The stock had a trading volume of 303,947 shares, compared to its average volume of 594,386. The stock has a 50 day moving average of $92.30 and a 200 day moving average of $120.62. The firm has a market capitalization of $3.35 billion, a P/E ratio of 84.97 and a beta of 1.64. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last announced 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. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The business had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. During the same period last year, the company earned $0.21 EPS. Impinj's revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on PI shares. Piper Sandler reduced their price objective on Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC dropped 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. Cantor Fitzgerald restated an "overweight" rating and issued a $133.00 price target on shares of Impinj in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Finally, Evercore ISI upped their price objective on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $155.38.

Impinj Company 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.