First Trust Advisors LP Sells 51,076 Shares of Impinj, Inc. (NASDAQ:PI)

First Trust Advisors LP decreased its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 53.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,687 shares of the company's stock after selling 51,076 shares during the period. First Trust Advisors LP owned approximately 0.16% of Impinj worth $6,491,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PI. Canada Pension Plan Investment Board bought a new position in Impinj during the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new stake in Impinj in the fourth quarter worth approximately $33,000. Jones Financial Companies Lllp grew its position in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after purchasing an additional 175 shares during the period. IFP Advisors Inc raised its stake in Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock valued at $53,000 after buying an additional 198 shares during the last quarter. Finally, Spire Wealth Management bought a new position in shares of Impinj during the 4th quarter valued at $87,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PI. Susquehanna lowered their target price on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group reduced their target price on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. Evercore ISI lifted their price target on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Needham & Company LLC reduced their price objective on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Piper Sandler lowered their target price 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $160.33.

Insider Transactions at Impinj

In related news, COO Hussein Mecklai sold 3,739 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $369,450.59. Following the sale, the chief operating officer now directly owns 70,347 shares of the company's stock, valued at $6,950,987.07. This represents a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the transaction, the chief executive officer now owns 354,076 shares of the company's stock, valued at $34,975,627.28. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,857 shares of company stock worth $1,665,290 in the last three months. Insiders own 51.00% of the company's stock.

Impinj Price Performance

Shares of Impinj stock traded up $3.87 during trading on Friday, reaching $98.80. 552,814 shares of the stock traded hands, compared to its average volume of 586,887. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 72.65 and a beta of 1.64. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88. The business has a fifty day simple moving average of $84.76 and a two-hundred day simple moving average of $132.91.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) 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 business had revenue of $74.28 million for the quarter, compared to analysts' expectations of $71.73 million. During the same period in the prior year, the firm earned $0.21 EPS. The company's revenue for the quarter was down 3.3% on a year-over-year basis. On average, research analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

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.