Impinj, Inc. (NASDAQ:PI) Position Reduced by Algert Global LLC

Algert Global LLC reduced its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 70.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,302 shares of the company's stock after selling 50,779 shares during the quarter. Algert Global LLC owned about 0.08% of Impinj worth $3,094,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PI. Principal Financial Group Inc. lifted its stake in Impinj by 4,013.7% during the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company's stock valued at $27,202,000 after purchasing an additional 122,579 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Impinj during the 4th quarter worth $3,341,000. Diversified Trust Co grew its holdings in shares of Impinj by 11.9% in the 4th quarter. Diversified Trust Co now owns 2,251 shares of the company's stock worth $327,000 after acquiring an additional 240 shares during the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of Impinj by 14.1% in the 4th quarter. Harbour Capital Advisors LLC now owns 3,445 shares of the company's stock worth $521,000 after acquiring an additional 425 shares during the last quarter. Finally, Inspire Investing LLC raised its position in shares of Impinj by 45.0% during the fourth quarter. Inspire Investing LLC now owns 2,752 shares of the company's stock worth $400,000 after purchasing an additional 854 shares during the period.

Impinj Price Performance

Shares of NASDAQ PI opened at $97.53 on Thursday. Impinj, Inc. has a one year low of $60.85 and a one year high of $239.88. The business's 50-day moving average price is $84.93 and its two-hundred day moving average price is $130.22. The company has a market capitalization of $2.83 billion, a P/E ratio of 71.72 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.12. The firm had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm's revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. On average, equities analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current year.

Insider Activity

In other Impinj news, CEO Chris Ph.D. Diorio sold 8,334 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the transaction, the chief executive officer now owns 354,076 shares in the company, valued at $34,975,627.28. This trade represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Hussein Mecklai sold 3,739 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the sale, the chief operating officer now owns 70,347 shares of the company's stock, valued at $6,950,987.07. The trade was a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,857 shares of company stock worth $1,665,290. 12.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PI shares. The Goldman Sachs Group dropped their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded shares of Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $133.00 target price on shares of Impinj in a research report on Thursday, April 24th. 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 report on Thursday, April 24th. Finally, Evercore ISI increased their price objective on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $160.33.

About Impinj

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.

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