MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 2,953 Shares of Impinj, Inc. (NASDAQ:PI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,736 shares of the company's stock after buying an additional 2,953 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.15% of Impinj worth $6,353,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its stake in Impinj by 85.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company's stock worth $174,000 after buying an additional 542 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of Impinj by 92.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company's stock worth $20,454,000 after purchasing an additional 67,510 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Impinj by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 20,825 shares of the company's stock worth $3,025,000 after purchasing an additional 1,363 shares during the last quarter. KBC Group NV raised its stake in shares of Impinj by 33.5% in the fourth 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. Finally, Norges Bank purchased a new stake in shares of Impinj in the fourth quarter worth approximately $40,100,000.

Insider Buying and Selling at Impinj

In related news, CFO Cary Baker sold 1,553 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now directly owns 76,451 shares of the company's stock, valued at approximately $7,550,300.76. This trade represents a 1.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.78, for a total transaction of $823,232.52. Following the sale, the chief executive officer now directly owns 354,076 shares in the company, valued at $34,975,627.28. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,857 shares of company stock valued at $1,665,290. Company insiders own 12.40% of the company's stock.

Impinj Trading Down 4.7%

Shares of PI stock traded down $5.81 during trading on Wednesday, hitting $117.52. The company's stock had a trading volume of 575,556 shares, compared to its average volume of 592,955. The company has a market cap of $3.41 billion, a PE ratio of 86.41 and a beta of 1.64. The business has a fifty day moving average of $89.03 and a 200-day moving average of $124.17. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.12. The company had revenue of $74.28 million during 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%. Impinj's quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. As a group, research analysts predict that Impinj, Inc. will post -0.47 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on PI shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $133.00 price objective on shares of Impinj in a research note on Thursday, April 24th. Needham & Company LLC lowered their price objective on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Piper Sandler lowered their price objective on Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Evercore ISI increased their price objective on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.