Janus Henderson Group PLC Purchases 424,851 Shares of Impinj, Inc. (NASDAQ:PI)

Janus Henderson Group PLC raised its holdings in Impinj, Inc. (NASDAQ:PI - Free Report) by 3,824.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 435,960 shares of the company's stock after purchasing an additional 424,851 shares during the quarter. Janus Henderson Group PLC owned approximately 1.54% of Impinj worth $63,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Graham Capital Management L.P. grew its stake in shares of Impinj by 29.0% during the fourth quarter. Graham Capital Management L.P. now owns 11,964 shares of the company's stock valued at $1,738,000 after purchasing an additional 2,693 shares during the last quarter. Deutsche Bank AG boosted its position in Impinj by 7.2% in the 4th quarter. Deutsche Bank AG now owns 118,476 shares of the company's stock valued at $17,210,000 after buying an additional 8,001 shares during the last quarter. Driehaus Capital Management LLC boosted its position in Impinj by 176.0% in the 4th quarter. Driehaus Capital Management LLC now owns 213,714 shares of the company's stock valued at $31,044,000 after buying an additional 136,277 shares during the last quarter. EP Wealth Advisors LLC increased its stake in shares of Impinj by 19.7% in the 4th quarter. EP Wealth Advisors LLC now owns 1,623 shares of the company's stock valued at $236,000 after buying an additional 267 shares during the period. Finally, Corton Capital Inc. acquired a new position in shares of Impinj during the fourth quarter valued at $330,000.

Impinj Trading Down 2.0%

Shares of NASDAQ:PI traded down $2.54 during trading on Monday, hitting $122.51. 59,349 shares of the company's stock traded hands, compared to its average volume of 592,918. The company has a 50-day moving average price of $87.71 and a 200-day moving average price of $124.68. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 89.97 and a beta of 1.64.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on PI shares. The Goldman Sachs Group dropped their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th. Needham & Company LLC lowered their target price 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. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Finally, Evercore ISI raised their price target on 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 assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $155.38.

Insider Buying and Selling

In related news, insider Cathal G. Phelan sold 565 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now owns 7,925 shares of the company's stock, valued at approximately $782,752.25. This trade represents a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Cary Baker sold 1,553 shares of Impinj stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the sale, the chief financial officer now owns 76,451 shares in the company, valued at $7,550,300.76. The trade was a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,857 shares of company stock valued at $1,665,290. Company insiders own 12.40% of the company's stock.

Impinj 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.