Vanguard Group Inc. Has $139.67 Million Holdings in Impinj, Inc. (NASDAQ:PI)

Vanguard Group Inc. trimmed its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,538,052 shares of the company's stock after selling 145,348 shares during the period. Vanguard Group Inc. owned approximately 9.38% of Impinj worth $139,669,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PI. Advisors Asset Management Inc. acquired a new stake in Impinj during the 1st quarter valued at $39,000. Newbridge Financial Services Group Inc. acquired a new position in Impinj during the 3rd quarter worth $55,000. Asset Management One Co. Ltd. grew its holdings in Impinj by 74.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company's stock worth $67,000 after acquiring an additional 524 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Impinj by 65.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 832 shares of the company's stock worth $75,000 after acquiring an additional 329 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in Impinj by 75.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,468 shares of the company's stock worth $81,000 after acquiring an additional 629 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PI. Canaccord Genuity Group raised their price objective on shares of Impinj from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, March 14th. Susquehanna raised their price objective on shares of Impinj from $115.00 to $130.00 and gave the stock a "positive" rating in a report on Friday, February 9th. Roth Mkm raised their price target on shares of Impinj from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, March 14th. StockNews.com upgraded shares of Impinj to a "sell" rating in a research report on Friday, February 9th. Finally, Needham & Company LLC raised their price target on shares of Impinj from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $114.38.

Impinj Stock Performance

NASDAQ:PI traded down $0.26 during mid-day trading on Wednesday, hitting $123.08. The stock had a trading volume of 180,990 shares, compared to its average volume of 395,472. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -75.97 and a beta of 2.05. The company has a 50 day simple moving average of $111.93 and a 200-day simple moving average of $86.93. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $142.70. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.11. The firm had revenue of $70.65 million for the quarter, compared to the consensus estimate of $67.10 million. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. On average, research analysts expect that Impinj, Inc. will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Impinj news, CRO Jeffrey Dossett sold 371 shares of the business's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $81.17, for a total transaction of $30,114.07. Following the sale, the executive now directly owns 46,118 shares in the company, valued at approximately $3,743,398.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Impinj news, CRO Jeffrey Dossett sold 371 shares of the business's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $81.17, for a total transaction of $30,114.07. Following the sale, the executive now directly owns 46,118 shares in the company, valued at approximately $3,743,398.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chris Ph.D. Diorio sold 2,953 shares of the business's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $127.19, for a total transaction of $375,592.07. Following the sale, the chief executive officer now owns 284,349 shares in the company, valued at $36,166,349.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,463 shares of company stock worth $12,613,330. 17.10% of the stock is owned by corporate insiders.

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.