Impinj, Inc. (NASDAQ:PI) Position Increased by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 16.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 164,222 shares of the company's stock after purchasing an additional 22,834 shares during the period. Nuveen Asset Management LLC owned approximately 0.58% of Impinj worth $23,855,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PI. Occudo Quantitative Strategies LP purchased a new stake in Impinj during the fourth quarter worth about $404,000. Millennium Management LLC boosted its stake in shares of Impinj by 10.5% during the 4th quarter. Millennium Management LLC now owns 70,358 shares of the company's stock worth $10,220,000 after acquiring an additional 6,713 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Impinj by 7.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,736 shares of the company's stock worth $6,353,000 after acquiring an additional 2,953 shares during the period. Lazard Asset Management LLC increased its stake in Impinj by 113.9% in the 4th quarter. Lazard Asset Management LLC now owns 27,705 shares of the company's stock valued at $4,023,000 after purchasing an additional 14,750 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in Impinj during the fourth quarter worth $390,000.

Wall Street Analysts Forecast Growth

PI has been the topic of several research reports. The Goldman Sachs Group lowered their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Evercore ISI raised 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $133.00 price target on shares of Impinj in a report on Thursday, April 24th. Needham & Company LLC lowered their price target on shares of Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Piper Sandler cut their price objective on Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $155.38.

Impinj Stock Performance

NASDAQ PI traded up $0.09 during trading hours on Wednesday, hitting $116.51. 27,785 shares of the company's stock were exchanged, compared to its average volume of 594,041. The business's 50 day moving average is $91.32 and its 200-day moving average is $121.24. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88. The firm has a market capitalization of $3.38 billion, a P/E ratio of 85.62 and a beta of 1.64.

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

Impinj 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.