Hsbc Holdings PLC Buys 7,202 Shares of Impinj, Inc. (NASDAQ:PI)

Hsbc Holdings PLC grew its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 200.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,786 shares of the company's stock after buying an additional 7,202 shares during the period. Hsbc Holdings PLC's holdings in Impinj were worth $1,581,000 at the end of the most recent quarter.

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

Insider Activity at Impinj

In other Impinj news, CFO Cary Baker sold 1,553 shares of Impinj stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the transaction, the chief financial officer now owns 76,451 shares in the company, valued at approximately $7,550,300.76. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Hussein Mecklai sold 3,739 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $369,450.59. Following the completion of the sale, the chief operating officer now directly owns 70,347 shares of the company's stock, valued at approximately $6,950,987.07. This trade represents a 5.05 % decrease in their ownership of the stock. 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 over the last quarter. Company insiders own 51.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PI. The Goldman Sachs Group reduced their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. StockNews.com downgraded Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. 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 research note on Thursday, April 24th. Piper Sandler dropped their target price 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. Finally, Susquehanna reduced their price target on shares of Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Impinj has an average rating of "Moderate Buy" and a consensus target price of $160.33.

Impinj Stock Performance

Shares of NASDAQ:PI traded down $0.01 during mid-day trading on Wednesday, reaching $96.50. 44,471 shares of the company's stock were exchanged, compared to its average volume of 585,828. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 70.78 and a beta of 1.64. The business's fifty day moving average price is $84.91 and its 200-day moving average price is $130.45.

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, beating 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 analysts' expectations of $71.73 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The business's quarterly revenue was down 3.3% on a year-over-year basis. Analysts predict that Impinj, Inc. will post -0.47 EPS 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.