UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 25.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,443 shares of the company's stock after selling 84,197 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.85% of Impinj worth $34,927,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of PI. Capital International Investors grew its holdings in Impinj by 45.0% during the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after buying an additional 473,721 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Impinj by 3,824.4% during the fourth quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock worth $63,310,000 after buying an additional 424,851 shares in the last quarter. Norges Bank bought a new stake in Impinj during the fourth quarter worth $40,100,000. Point72 Asset Management L.P. bought a new stake in Impinj during the fourth quarter worth $30,697,000. Finally, Raymond James Financial Inc. bought a new stake in Impinj during the fourth quarter worth $27,699,000.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on PI shares. The Goldman Sachs Group reduced their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Evercore ISI upped their price objective on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $133.00 price objective on shares of Impinj in a research note on Thursday, April 24th. Piper Sandler reduced 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, Needham & Company LLC reduced 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.38.
Get Our Latest Report on PI
Impinj Trading Down 1.1%
Shares of PI stock traded down $1.25 on Friday, hitting $114.31. 349,283 shares of the stock were exchanged, compared to its average volume of 595,478. The firm has a market capitalization of $3.31 billion, a PE ratio of 84.05 and a beta of 1.64. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88. The firm's 50 day moving average is $92.76 and its two-hundred day moving average is $119.61.
Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 EPS. On average, sell-side analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current 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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