Lazard Asset Management LLC Purchases 14,750 Shares of Impinj, Inc. (NASDAQ:PI)

Lazard Asset Management LLC raised its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 113.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,705 shares of the company's stock after acquiring an additional 14,750 shares during the quarter. Lazard Asset Management LLC owned about 0.10% of Impinj worth $4,023,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Inspire Investing LLC boosted its position in shares of Impinj by 45.0% during the 4th quarter. Inspire Investing LLC now owns 2,752 shares of the company's stock valued at $400,000 after purchasing an additional 854 shares in the last quarter. Jamison Private Wealth Management Inc. grew its position in shares of Impinj by 91.9% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 2,638 shares of the company's stock worth $383,000 after buying an additional 1,263 shares during the period. KBC Group NV increased its stake in shares of Impinj by 33.5% in the 4th quarter. KBC Group NV now owns 909 shares of the company's stock valued at $132,000 after acquiring an additional 228 shares in the last quarter. Stordahl Capital Management Inc. acquired a new position in shares of Impinj during the 4th quarter valued at $363,000. Finally, Spire Wealth Management bought a new position in Impinj during the fourth quarter worth $87,000.

Insider Activity

In related news, CEO Chris Ph.D. Diorio sold 8,334 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 354,076 shares in the company, valued at approximately $34,975,627.28. The trade was a 2.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Hussein Mecklai sold 3,739 shares of the stock in a transaction dated Friday, February 21st. The stock was 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 in the company, valued at $6,950,987.07. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,857 shares of company stock valued at $1,665,290 in the last three months. Company insiders own 12.40% of the company's stock.

Wall Street Analysts Forecast Growth

PI has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Piper Sandler cut their target price on Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC decreased their price target 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. Evercore ISI raised their price objective on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, StockNews.com lowered shares of Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $155.38.

Impinj Trading Down 1.4%

Shares of PI stock traded down $1.73 during trading on Monday, hitting $123.32. The company's stock had a trading volume of 394,599 shares, compared to its average volume of 594,218. The business has a fifty day moving average of $87.71 and a 200-day moving average of $124.68. The company has a market cap of $3.57 billion, a PE ratio of 90.68 and a beta of 1.64. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.12. The company had revenue of $74.28 million for the quarter, compared to analysts' expectations of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. As a group, 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.