Occudo Quantitative Strategies LP Buys Shares of 2,779 Impinj, Inc. (NASDAQ:PI)

Occudo Quantitative Strategies LP bought a new stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,779 shares of the company's stock, valued at approximately $404,000.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Investors grew its stake in Impinj by 45.0% during the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after buying an additional 473,721 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Impinj by 3,824.4% in the fourth quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock worth $63,310,000 after acquiring an additional 424,851 shares in the last quarter. Norges Bank purchased a new stake in shares of Impinj during the fourth quarter worth about $40,100,000. Raymond James Financial Inc. acquired a new position in shares of Impinj during the fourth quarter valued at about $27,699,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Impinj by 244.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 219,081 shares of the company's stock worth $31,825,000 after purchasing an additional 155,543 shares in the last quarter.

Insider Buying and Selling at Impinj

In related news, CRO Jeffrey Dossett sold 2,666 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $263,427.46. Following the completion of the sale, the executive now directly owns 71,886 shares of the company's stock, valued at $7,103,055.66. The trade was a 3.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Hussein Mecklai sold 3,739 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $369,450.59. Following the completion of the sale, the chief operating officer now directly owns 70,347 shares of the company's stock, valued at $6,950,987.07. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,857 shares of company stock valued at $1,665,290 in the last quarter. Corporate insiders own 12.40% of the company's stock.

Impinj Trading Down 1.4%

PI traded down $1.73 during midday trading on Monday, hitting $123.32. 394,599 shares of the company traded hands, compared to its average volume of 594,218. The company has a market capitalization of $3.57 billion, a price-to-earnings 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. The business has a 50 day simple moving average of $87.71 and a two-hundred day simple moving average of $124.68.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.12. The firm 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 firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share. Equities research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PI. The Goldman Sachs Group cut their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Evercore ISI raised their target price on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. StockNews.com downgraded shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Needham & Company LLC reduced their price objective on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Susquehanna dropped their target price on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Impinj currently has a consensus rating of "Moderate Buy" and a consensus target price of $155.38.

Impinj 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.