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

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

Several other institutional investors and hedge funds have also bought and sold shares of PI. Inspire Investing LLC lifted its stake in Impinj by 45.0% during the fourth quarter. Inspire Investing LLC now owns 2,752 shares of the company's stock worth $400,000 after purchasing an additional 854 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its position in shares of Impinj by 91.9% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 2,638 shares of the company's stock worth $383,000 after buying an additional 1,263 shares during the last quarter. KBC Group NV lifted its position in shares of Impinj by 33.5% during the 4th quarter. KBC Group NV now owns 909 shares of the company's stock worth $132,000 after buying an additional 228 shares during the last quarter. Stordahl Capital Management Inc. acquired a new stake in Impinj in the fourth quarter valued at about $363,000. Finally, Spire Wealth Management bought a new position in Impinj in the fourth quarter valued at about $87,000.

Impinj Price Performance

NASDAQ PI traded up $4.42 on Tuesday, reaching $116.42. The company had a trading volume of 593,217 shares, compared to its average volume of 596,290. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 85.60 and a beta of 1.64. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88. The business has a 50 day moving average of $90.79 and a two-hundred day moving average of $121.27.

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

Wall Street Analyst Weigh In

PI has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. Piper Sandler cut their target price on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI boosted their target price on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $133.00 price target on shares of Impinj in a research note on Thursday, April 24th. Finally, Needham & Company LLC cut their price objective on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Impinj has an average rating of "Moderate Buy" and a consensus target price 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.