Thrivent Financial for Lutherans Buys Shares of 17,884 Impinj, Inc. (NASDAQ:PI)

Thrivent Financial for Lutherans acquired a new stake in Impinj, Inc. (NASDAQ:PI) in the third quarter, Holdings Channel.com reports. The firm acquired 17,884 shares of the company’s stock, valued at approximately $3,872,000.

Other large investors have also recently bought and sold shares of the company. First Bank & Trust grew its position in Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after acquiring an additional 55 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares during the last quarter. KBC Group NV increased its position in shares of Impinj by 29.7% in the third quarter. KBC Group NV now owns 681 shares of the company’s stock valued at $147,000 after acquiring an additional 156 shares during the period. Hsbc Holdings PLC raised its stake in shares of Impinj by 7.3% during the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after acquiring an additional 190 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Impinj by 0.8% during the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after purchasing an additional 248 shares during the period.

Impinj Price Performance

PI stock opened at $191.04 on Monday. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88. The stock has a market capitalization of $5.40 billion, a P/E ratio of 214.65 and a beta of 1.81. The business has a fifty day moving average price of $206.17 and a 200-day moving average price of $176.83.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. The firm’s revenue was up 46.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.36) EPS. As a group, analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

PI has been the topic of a number of recent analyst reports. Susquehanna lifted their price objective on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Needham & Company LLC lifted their price target on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. The Goldman Sachs Group lifted their target price on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Cantor Fitzgerald upped their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Insiders Place Their Bets

In related news, CRO Jeffrey Dossett sold 7,500 shares of Impinj stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00. Following the completion of the transaction, the executive now owns 65,294 shares in the company, valued at approximately $11,829,313.98. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total value of $313,261.76. Following the completion of the sale, the chief executive officer now directly owns 292,532 shares of the company’s stock, valued at $61,174,291.84. The trade was a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 655,674 shares of company stock worth $131,623,305. Company insiders own 51.00% of the company’s stock.

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.