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

Lazard Asset Management LLC boosted its holdings in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 113.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,705 shares of the company's stock after purchasing an additional 14,750 shares during the quarter. Lazard Asset Management LLC owned approximately 0.10% of Impinj worth $4,023,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock worth $500,009,000 after buying an additional 104,861 shares during the last quarter. Capital International Investors increased its holdings in shares of Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock valued at $221,897,000 after purchasing an additional 473,721 shares during the period. Geode Capital Management LLC increased its holdings in shares of Impinj by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock valued at $79,654,000 after purchasing an additional 3,899 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Impinj by 3,824.4% in the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock valued at $63,310,000 after purchasing an additional 424,851 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Impinj by 3.4% in the 4th quarter. Ameriprise Financial Inc. now owns 407,391 shares of the company's stock valued at $59,178,000 after purchasing an additional 13,264 shares during the period.

Insiders Place Their Bets

In other news, insider Cathal G. Phelan sold 565 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the sale, the insider now directly owns 7,925 shares of the company's stock, valued at approximately $782,752.25. This represents a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Cary Baker sold 1,553 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the sale, the chief financial officer now directly owns 76,451 shares of the company's stock, valued at $7,550,300.76. This represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,857 shares of company stock valued at $1,665,290 over the last 90 days. 12.40% of the stock is currently owned by company insiders.

Impinj Trading Down 0.5%

Impinj stock traded down $0.64 during trading hours on Wednesday, reaching $122.69. 57,658 shares of the company were exchanged, compared to its average volume of 590,938. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 90.25 and a beta of 1.64. The stock has a 50-day moving average of $89.03 and a 200 day moving average of $124.17. 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 announced its earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.12. The firm had revenue of $74.28 million during 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 company's revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. As a group, research analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PI shares. Piper Sandler dropped 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. The Goldman Sachs Group dropped their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $133.00 target price on shares of Impinj in a report on Thursday, April 24th. Needham & Company LLC dropped their target price on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, StockNews.com downgraded 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $155.38.

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.