Chevy Chase Trust Holdings LLC reduced its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 10.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 731,955 shares of the company's stock after selling 82,588 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 2.56% of Impinj worth $66,388,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new stake in Impinj in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Impinj during the 4th quarter valued at $33,000. Jones Financial Companies Lllp boosted its position in shares of Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after purchasing an additional 175 shares in the last quarter. IFP Advisors Inc grew its stake in Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after buying an additional 198 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Impinj by 68.7% during the 1st quarter. GAMMA Investing LLC now owns 722 shares of the company's stock worth $65,000 after buying an additional 294 shares during the last quarter.
Analyst Ratings Changes
PI has been the subject of a number of research analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $100.00 price target on shares of Impinj in a research note on Thursday, June 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Needham & Company LLC lowered their target price on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, 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 report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.38.
View Our Latest Report on PI
Impinj Stock Performance
Shares of Impinj stock traded up $0.25 on Wednesday, reaching $108.04. 223,024 shares of the stock were exchanged, compared to its average volume of 590,578. The business has a 50 day moving average price of $104.11 and a two-hundred day moving average price of $110.77. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -2,700.32 and a beta of 1.67. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88. The company has a quick ratio of 7.46, a current ratio of 10.96 and a debt-to-equity ratio of 1.77.
Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.09 by $0.12. The business had revenue of $74.28 million during the quarter, compared to analysts' expectations of $71.73 million. Impinj had a negative net margin of 0.26% and a positive return on equity of 6.45%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. Analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.
About Impinj
(
Free Report)
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.
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