Voloridge Investment Management LLC Has $6.54 Million Holdings in Impinj, Inc. (NASDAQ:PI)

Voloridge Investment Management LLC decreased its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 81.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,019 shares of the company's stock after selling 191,527 shares during the period. Voloridge Investment Management LLC owned approximately 0.16% of Impinj worth $6,539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock valued at $500,009,000 after purchasing an additional 104,861 shares during the period. Capital International Investors grew its holdings in shares of Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after acquiring an additional 473,721 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Impinj by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock worth $79,654,000 after acquiring an additional 3,899 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Impinj by 3,824.4% in the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock worth $63,310,000 after acquiring an additional 424,851 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Impinj by 3.4% in the 4th quarter. Ameriprise Financial Inc. now owns 407,391 shares of the company's stock worth $59,178,000 after acquiring an additional 13,264 shares during the last quarter.

Impinj Stock Performance

PI stock traded down $2.74 during midday trading on Friday, hitting $112.82. 66,350 shares of the company's stock were exchanged, compared to its average volume of 592,306. The stock's fifty day moving average price is $92.30 and its 200-day moving average price is $120.62. The company has a market cap of $3.27 billion, a PE ratio of 82.99 and a beta of 1.64. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly 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 firm had revenue of $74.28 million for 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 company's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. On average, analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Analyst Upgrades and Downgrades

PI has been the subject of a number of research reports. Evercore ISI lifted their price objective on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research report 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 report on Tuesday, April 22nd. Cantor Fitzgerald reissued an "overweight" rating and set a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Needham & Company LLC reduced their price target on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. 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's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.