Teachers Retirement System of The State of Kentucky Buys 3,694 Shares of Impinj, Inc. (NASDAQ:PI)

Teachers Retirement System of The State of Kentucky raised its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 94.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,600 shares of the company's stock after buying an additional 3,694 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Impinj were worth $1,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PI. Virtu Financial LLC bought a new position in shares of Impinj in the third quarter worth approximately $1,749,000. Principal Financial Group Inc. grew its holdings in Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company's stock worth $27,202,000 after acquiring an additional 122,579 shares during the last quarter. Nordea Investment Management AB purchased a new position in shares of Impinj in the fourth quarter valued at about $3,341,000. Diversified Trust Co increased its position in shares of Impinj by 11.9% in the fourth quarter. Diversified Trust Co now owns 2,251 shares of the company's stock valued at $327,000 after acquiring an additional 240 shares during the period. Finally, Harbour Capital Advisors LLC raised its stake in shares of Impinj by 14.1% during the fourth quarter. Harbour Capital Advisors LLC now owns 3,445 shares of the company's stock valued at $521,000 after acquiring an additional 425 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PI shares. Cantor Fitzgerald restated an "overweight" rating and set a $133.00 price target on shares of Impinj in a report on Thursday, April 24th. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Susquehanna decreased their target price on Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a report on Wednesday, January 22nd. 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. Finally, Needham & Company LLC decreased their price objective on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $160.33.

Insider Buying and Selling

In related news, insider Cathal G. Phelan sold 565 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.77, for a total value of $55,805.05. Following the sale, the insider now owns 7,925 shares in the company, valued at approximately $782,752.25. This trade represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Jeffrey Dossett sold 2,666 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $263,427.46. Following the completion of the transaction, the executive now directly owns 71,886 shares in the company, valued at $7,103,055.66. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,857 shares of company stock worth $1,665,290 in the last 90 days. Insiders own 51.00% of the company's stock.

Impinj Stock Up 4.1 %

Shares of NASDAQ:PI traded up $3.87 during midday trading on Friday, reaching $98.80. The company's stock had a trading volume of 552,814 shares, compared to its average volume of 587,893. The firm has a 50 day moving average of $84.76 and a 200-day moving average of $132.21. The firm has a market capitalization of $2.86 billion, a P/E ratio of 72.65 and a beta of 1.64. 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 posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 EPS 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 business had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Impinj's quarterly revenue was down 3.3% on a year-over-year basis. On average, research analysts predict that Impinj, Inc. will post -0.47 EPS for the current 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.