Allspring Global Investments Holdings LLC Has $34.81 Million Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Allspring Global Investments Holdings LLC reduced its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 386,678 shares of the company's stock after selling 48,909 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.43% of Impinj worth $34,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. purchased a new stake in shares of Impinj in the first quarter valued at about $39,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Impinj in the third quarter valued at about $55,000. Asset Management One Co. Ltd. lifted its holdings in shares of Impinj by 74.6% in the third quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company's stock valued at $67,000 after purchasing an additional 524 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Impinj by 65.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 832 shares of the company's stock valued at $75,000 after purchasing an additional 329 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Impinj by 75.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,468 shares of the company's stock valued at $81,000 after purchasing an additional 629 shares in the last quarter.

Impinj Trading Down 3.9 %

Shares of Impinj stock traded down $4.86 during trading hours on Friday, hitting $119.98. The company's stock had a trading volume of 146,193 shares, compared to its average volume of 237,280. The business has a fifty day moving average of $114.99 and a 200 day moving average of $89.87. The company has a market capitalization of $3.32 billion, a PE ratio of -74.06 and a beta of 2.05. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $142.70. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26.

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

Insiders Place Their Bets

In other Impinj news, CEO Chris Ph.D. Diorio sold 855 shares of the firm's stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $81.16, for a total transaction of $69,391.80. Following the completion of the transaction, the chief executive officer now directly owns 253,311 shares of the company's stock, valued at approximately $20,558,720.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Impinj news, CEO Chris Ph.D. Diorio sold 855 shares of the firm's stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $81.16, for a total transaction of $69,391.80. Following the completion of the transaction, the chief executive officer now directly owns 253,311 shares of the company's stock, valued at approximately $20,558,720.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Cary Baker sold 20,000 shares of the firm's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the transaction, the chief financial officer now directly owns 55,432 shares of the company's stock, valued at $5,661,824.48. The disclosure for this sale can be found here. Insiders sold a total of 119,463 shares of company stock valued at $12,613,330 in the last ninety days. Corporate insiders own 17.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PI. Canaccord Genuity Group upped their price objective 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. Susquehanna upped their price objective 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. Roth Mkm upped their price objective 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. The Goldman Sachs Group upped their price objective 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, StockNews.com raised shares of Impinj to a "sell" rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $114.38.

About Impinj

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.