Keybank National Association OH Sells 256 Shares of Impinj, Inc. (NASDAQ:PI)

Keybank National Association OH cut its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 10.4% in the 4th quarter, Holdings Channel reports. The firm owned 2,215 shares of the company’s stock after selling 256 shares during the period. Keybank National Association OH’s holdings in Impinj were worth $322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PI. Farther Finance Advisors LLC lifted its stake in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Impinj in the 3rd quarter valued at $1,777,000. Van ECK Associates Corp bought a new position in shares of Impinj in the 3rd quarter valued at $314,000. Asset Management One Co. Ltd. bought a new position in shares of Impinj in the 3rd quarter valued at $138,000. Finally, Amalgamated Bank lifted its stake in shares of Impinj by 718.3% in the 3rd quarter. Amalgamated Bank now owns 6,702 shares of the company’s stock valued at $1,451,000 after acquiring an additional 5,883 shares during the last quarter.

Impinj Trading Up 0.3 %

Shares of Impinj stock opened at $100.71 on Tuesday. The business has a 50-day moving average price of $120.53 and a two-hundred day moving average price of $164.17. Impinj, Inc. has a 1-year low of $84.17 and a 1-year high of $239.88. The company has a market cap of $2.87 billion, a P/E ratio of 74.05 and a beta of 1.98.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. Equities research analysts forecast that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Piper Sandler dropped their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group dropped their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Susquehanna lowered their target price on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Impinj has a consensus rating of “Moderate Buy” and an average target price of $180.10.

Insiders Place Their Bets

In related news, CFO Cary Baker sold 499 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $72,883.94. Following the sale, the chief financial officer now owns 71,107 shares of the company’s stock, valued at approximately $10,385,888.42. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the sale, the insider now directly owns 6,979 shares in the company, valued at $1,019,352.74. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,323 shares of company stock worth $2,454,588. Company insiders own 51.00% of the company’s stock.

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.