Impinj, Inc. (NASDAQ:PI) Position Cut by Man Group plc

Man Group plc trimmed its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 37.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,755 shares of the company's stock after selling 22,321 shares during the period. Man Group plc owned 0.13% of Impinj worth $5,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PI. Inspire Investing LLC boosted its stake in shares of Impinj by 45.0% during the fourth quarter. Inspire Investing LLC now owns 2,752 shares of the company's stock valued at $400,000 after acquiring an additional 854 shares during the last quarter. Jamison Private Wealth Management Inc. boosted its stake 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 purchasing an additional 1,263 shares during the last quarter. KBC Group NV boosted its stake 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 purchasing an additional 228 shares during the last quarter. Stordahl Capital Management Inc. purchased a new stake in shares of Impinj during the fourth quarter worth about $363,000. Finally, Spire Wealth Management acquired a new position in shares of Impinj in the fourth quarter valued at approximately $87,000.

Analyst Upgrades and Downgrades

PI has been the subject of several analyst reports. Needham & Company LLC dropped their target price on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group cut their price objective 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. Piper Sandler lowered their target price 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. Evercore ISI upped their price target 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $133.00 price target on shares of Impinj in a report on Thursday, April 24th. One equities 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $155.38.

Impinj Stock Performance

Shares of PI stock traded down $3.21 during mid-day trading on Monday, reaching $112.00. 415,353 shares of the company were exchanged, compared to its average volume of 596,302. The business's 50 day simple moving average is $90.43 and its 200 day simple moving average is $121.91. The company has a market capitalization of $3.25 billion, a P/E ratio of 82.35 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.

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 the consensus estimate of $0.09 by $0.12. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The company had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. During the same period last year, the business earned $0.21 EPS. The firm's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

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.