Wellington Management Group LLP Lowers Position in Impinj, Inc. (NASDAQ:PI)

Wellington Management Group LLP trimmed its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 83.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,489 shares of the company's stock after selling 95,918 shares during the period. Wellington Management Group LLP owned 0.06% of Impinj worth $2,686,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Sylebra Capital LLC boosted its stake in Impinj by 8.6% in the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock valued at $504,360,000 after acquiring an additional 274,764 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 last quarter. Capital International Investors lifted its holdings in shares of Impinj by 45.0% during the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock valued at $221,897,000 after purchasing an additional 473,721 shares during the last quarter. Geode Capital Management LLC boosted its position 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 purchasing an additional 3,899 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Impinj by 3,824.4% during 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 during the last quarter.

Impinj Stock Up 3.1%

Shares of NASDAQ:PI traded up $3.56 during trading on Monday, hitting $117.01. The stock had a trading volume of 417,103 shares, compared to its average volume of 592,991. Impinj, Inc. has a 12-month low of $60.85 and a 12-month high of $239.88. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 86.04 and a beta of 1.67. The stock has a 50-day simple moving average of $95.33 and a two-hundred day simple moving average of $116.89.

Impinj (NASDAQ:PI - Get Free Report) last issued 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. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The company had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. During the same quarter in the prior year, the company earned $0.21 EPS. Impinj's quarterly revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Analysts Set New Price Targets

PI has been the subject of a number of research analyst reports. Needham & Company LLC decreased their price target on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research note 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 on the stock in a report on Tuesday, April 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Finally, Evercore ISI boosted their target price on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Impinj currently has a consensus rating of "Moderate Buy" and a consensus 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.