Connor Clark & Lunn Investment Management Ltd. Sells 7,826 Shares of Impinj, Inc. (NASDAQ:PI)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its stake in Impinj, Inc. by 12.5% after selling 7,826 shares, bringing their total ownership to 54,565 shares valued at approximately $4.95 million.
• Several large investors have significantly increased their holdings in Impinj, with Capital International Investors reporting a 45% increase in the 4th quarter.
• Equities analysts have raised their target price for Impinj shares, with estimates ranging as high as $180, contributing to an average target price of $163.29 and a consensus rating of "Moderate Buy."

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,565 shares of the company's stock after selling 7,826 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.19% of Impinj worth $4,949,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PI. Wells Fargo & Company MN boosted its position in Impinj by 41.0% during the 4th quarter. Wells Fargo & Company MN now owns 26,283 shares of the company's stock worth $3,818,000 after buying an additional 7,647 shares during the period. Bank of Montreal Can raised its holdings in shares of Impinj by 10.3% during the fourth quarter. Bank of Montreal Can now owns 2,781 shares of the company's stock valued at $404,000 after purchasing an additional 260 shares during the period. Raymond James Financial Inc. bought a new position in Impinj in the fourth quarter worth approximately $27,699,000. Capital Fund Management S.A. bought a new stake in shares of Impinj during the fourth quarter valued at approximately $1,801,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Impinj in the 4th quarter worth $13,518,000.

Impinj Stock Performance

NASDAQ:PI traded down $5.60 during trading on Friday, reaching $161.77. The company's stock had a trading volume of 371,302 shares, compared to its average volume of 638,552. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 16,193.19 and a beta of 1.74. The firm has a 50 day moving average of $123.69 and a 200-day moving average of $106.75. The company has a debt-to-equity ratio of 1.51, a quick ratio of 8.44 and a current ratio of 11.64.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.08. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The company had revenue of $97.89 million during the quarter, compared to analyst estimates of $93.78 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. Research analysts expect that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Cantor Fitzgerald increased their price objective on Impinj from $133.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Susquehanna increased their price target on Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Piper Sandler lifted their price objective on shares of Impinj from $140.00 to $180.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Needham & Company LLC upped their target price on shares of Impinj from $115.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Evercore ISI increased their target price on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $163.29.

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.