State of Tennessee Department of Treasury Has $1.74 Million Holdings in Impinj, Inc. (NASDAQ:PI)

State of Tennessee Department of Treasury raised its position in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 48.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,950 shares of the company's stock after buying an additional 3,880 shares during the period. State of Tennessee Department of Treasury's holdings in Impinj were worth $1,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in shares of Impinj in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new stake in Impinj during the 4th quarter worth about $33,000. Jones Financial Companies Lllp boosted its position in shares of Impinj by 205.9% during the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after acquiring an additional 175 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Impinj by 116.5% in the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock valued at $53,000 after acquiring an additional 198 shares during the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of Impinj during the 4th quarter worth about $87,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PI. Susquehanna lowered their target price on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a report on Wednesday, January 22nd. StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. Cantor Fitzgerald reissued an "overweight" rating and issued a $133.00 target price on shares of Impinj in a report on Thursday, April 24th. 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 report on Thursday, February 6th. Finally, Evercore ISI lifted their price target on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $160.33.

Insider Activity

In other news, insider Cathal G. Phelan sold 565 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the transaction, the insider now owns 7,925 shares in the company, valued at approximately $782,752.25. This trade represents a 6.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the transaction, the chief operating officer now owns 70,347 shares in the company, valued at approximately $6,950,987.07. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,857 shares of company stock valued at $1,665,290. 51.00% of the stock is currently owned by insiders.

Impinj Price Performance

Impinj stock traded up $3.87 during midday trading on Friday, hitting $98.80. 552,814 shares of the company were exchanged, compared to its average volume of 586,887. The company's fifty day moving average price is $84.76 and its 200-day moving average price is $132.91. The company has a market cap of $2.86 billion, a PE ratio of 72.65 and a beta of 1.64. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 11.15% and a return on equity of 7.11%. The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. On average, analysts expect that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

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.