Price T Rowe Associates Inc. MD Purchases 155,543 Shares of Impinj, Inc. (NASDAQ:PI)

Price T Rowe Associates Inc. MD boosted its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 244.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 219,081 shares of the company's stock after purchasing an additional 155,543 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.77% of Impinj worth $31,825,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Impinj by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock worth $500,009,000 after acquiring an additional 104,861 shares during the period. Capital International Investors lifted its position in Impinj by 45.0% in the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after purchasing an additional 473,721 shares during the period. Geode Capital Management LLC lifted its position in Impinj by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock worth $79,654,000 after purchasing an additional 3,899 shares during the period. Norges Bank bought a new position in Impinj during the 4th quarter valued at $40,100,000. Finally, Renaissance Technologies LLC increased its position in shares of Impinj by 3.5% during the 4th quarter. Renaissance Technologies LLC now owns 224,400 shares of the company's stock valued at $32,596,000 after purchasing an additional 7,500 shares during the period.

Impinj Price Performance

Impinj stock traded up $3.87 during midday trading on Friday, reaching $98.80. The stock had a trading volume of 552,814 shares, compared to its average volume of 587,893. Impinj, Inc. has a twelve month low of $60.85 and a twelve month high of $239.88. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 72.65 and a beta of 1.64. The firm's fifty day simple moving average is $84.76 and its two-hundred day simple moving average is $132.21.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.12. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The business had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. Impinj's revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. The Goldman Sachs Group decreased their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Needham & Company LLC reduced their price objective on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Piper Sandler dropped their target price on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $133.00 price target on shares of Impinj in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Impinj presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.33.

Insider Transactions at Impinj

In other news, COO Hussein Mecklai sold 3,739 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $369,450.59. Following the transaction, the chief operating officer now owns 70,347 shares in the company, valued at $6,950,987.07. This represents a 5.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jeffrey Dossett sold 2,666 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $263,427.46. Following the transaction, the executive now owns 71,886 shares in the company, valued at $7,103,055.66. This represents a 3.58 % decrease in their position. 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 three months. 51.00% 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.