Wealth Enhancement Advisory Services LLC Raises Stock Position in Impinj, Inc. (NASDAQ:PI)

Wealth Enhancement Advisory Services LLC grew its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 25.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of PI. KBC Group NV raised its position in shares of Impinj by 33.5% in the fourth quarter. KBC Group NV now owns 909 shares of the company's stock valued at $132,000 after buying an additional 228 shares during the last quarter. Spire Wealth Management acquired a new stake in Impinj during the fourth quarter worth about $87,000. abrdn plc acquired a new stake in Impinj during the fourth quarter worth about $1,221,000. Pachira Investments Inc. increased its position in Impinj by 567.7% during the fourth quarter. Pachira Investments Inc. now owns 20,504 shares of the company's stock worth $3,006,000 after purchasing an additional 17,433 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Impinj by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock worth $1,612,000 after purchasing an additional 100 shares during the last quarter.

Impinj Stock Down 1.9%

PI stock traded down $2.19 during mid-day trading on Friday, hitting $113.45. 460,692 shares of the company were exchanged, compared to its average volume of 593,697. The firm has a market capitalization of $3.29 billion, a P/E ratio of 83.42 and a beta of 1.67. The business has a fifty day simple moving average of $95.33 and a 200-day simple moving average of $117.38. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last announced its 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. Impinj had a net margin of 11.15% and a return on equity of 7.11%. 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 earnings per share. Impinj's revenue was down 3.3% compared to the same quarter last year. Research analysts predict that Impinj, Inc. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PI shares. Needham & Company LLC cut their price objective on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Piper Sandler cut their price objective on shares of 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 reaffirmed an "overweight" rating and set a $133.00 target price on shares of Impinj in a research note on Thursday, April 24th. Finally, Evercore ISI increased their target price on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note 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 company's stock. According to MarketBeat, Impinj currently has a consensus rating of "Moderate Buy" and an average target price of $155.38.

Impinj Company 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.