Chevy Chase Trust Holdings LLC Lowers Stake in Impinj, Inc. (NASDAQ:PI)

Chevy Chase Trust Holdings LLC lowered its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056,370 shares of the company's stock after selling 53,818 shares during the quarter. Chevy Chase Trust Holdings LLC owned 3.90% of Impinj worth $95,105,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Impinj by 0.8% in the third quarter. FMR LLC now owns 4,028,894 shares of the company's stock worth $221,710,000 after buying an additional 31,289 shares in the last quarter. Sylebra Capital LLC purchased a new position in shares of Impinj in the third quarter worth $217,290,000. Sylebra Capital Ltd increased its position in Impinj by 4.1% in the first quarter. Sylebra Capital Ltd now owns 2,848,085 shares of the company's stock worth $385,972,000 after purchasing an additional 111,697 shares during the last quarter. BlackRock Inc. increased its position in Impinj by 1.5% in the first quarter. BlackRock Inc. now owns 1,412,629 shares of the company's stock worth $89,758,000 after purchasing an additional 20,404 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Impinj by 13.9% in the third quarter. Vanguard Group Inc. now owns 1,251,084 shares of the company's stock worth $100,124,000 after purchasing an additional 153,039 shares during the last quarter.

Impinj Stock Performance

Shares of NASDAQ PI traded down $5.49 during midday trading on Thursday, reaching $117.59. 222,407 shares of the stock were exchanged, compared to its average volume of 392,807. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $142.70. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -72.59 and a beta of 2.05. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26. The firm has a 50-day simple moving average of $112.25 and a two-hundred day simple moving average of $87.14.

Impinj (NASDAQ:PI - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.47) by $0.11. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The firm had revenue of $70.65 million for the quarter, compared to analyst estimates of $67.10 million. As a group, analysts anticipate that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PI shares. Needham & Company LLC boosted their target price on shares of Impinj from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, March 14th. Susquehanna boosted their target price on shares of Impinj from $115.00 to $130.00 and gave the company a "positive" rating in a research note on Friday, February 9th. Canaccord Genuity Group boosted their target price on shares of Impinj from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, March 14th. The Goldman Sachs Group boosted their target price on shares of Impinj from $89.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, February 9th. Finally, Roth Mkm boosted their target price on shares of Impinj from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $114.38.

Insiders Place Their Bets

In other news, COO Hussein Mecklai sold 325 shares of the business's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $81.13, for a total transaction of $26,367.25. Following the transaction, the chief operating officer now owns 40,489 shares of the company's stock, valued at approximately $3,284,872.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related 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 value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Hussein Mecklai sold 325 shares of the business's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $81.13, for a total transaction of $26,367.25. Following the completion of the sale, the chief operating officer now owns 40,489 shares in the company, valued at $3,284,872.57. The disclosure for this sale can be found here. Insiders have sold a total of 119,463 shares of company stock valued at $12,613,330 in the last 90 days. 17.10% of the stock is owned by 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.

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