Wealth Enhancement Advisory Services LLC Increases Stake in Impinj, Inc. (NASDAQ:PI)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 25.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,605 shares of the company's stock after buying an additional 2,327 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Impinj were worth $1,686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in Impinj by 45.0% in the fourth 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. Janus Henderson Group PLC grew its holdings in 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 buying an additional 424,851 shares in the last quarter. Norges Bank acquired a new position in shares of Impinj during the fourth quarter valued at $40,100,000. Sylebra Capital LLC raised its holdings in Impinj by 8.6% during the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock worth $504,360,000 after purchasing an additional 274,764 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Impinj in the fourth quarter valued at $30,697,000.

Wall Street Analysts Forecast Growth

PI has been the topic of several research analyst reports. Needham & Company LLC lowered their price target on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Piper Sandler decreased their price objective on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI increased their price objective on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a 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 given a buy rating to the stock. According to MarketBeat.com, Impinj has a consensus rating of "Moderate Buy" and an average price target of $155.38.

Impinj Price Performance

Shares of PI stock traded down $1.15 during trading hours on Tuesday, reaching $115.86. The company had a trading volume of 310,026 shares, compared to its average volume of 592,023. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 85.19 and a beta of 1.67. The business has a fifty day simple moving average of $95.85 and a 200-day simple moving average of $116.37.

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 return on equity of 7.11% and a net margin of 11.15%. The company had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. During the same quarter last year, the firm posted $0.21 EPS. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current 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.