SBI Securities Co. Ltd. Acquires New Position in Impinj, Inc. (NASDAQ:PI)

SBI Securities Co. Ltd. bought a new position in Impinj, Inc. (NASDAQ:PI) in the fourth quarter, Holdings Channel reports. The institutional investor bought 227 shares of the company’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PI. Louisiana State Employees Retirement System boosted its holdings in Impinj by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock valued at $1,612,000 after acquiring an additional 100 shares during the period. National Bank of Canada FI purchased a new stake in shares of Impinj during the third quarter valued at approximately $30,000. Farther Finance Advisors LLC boosted its stake in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the period. KBC Group NV grew its holdings in shares of Impinj by 29.7% in the third quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after purchasing an additional 156 shares during the last quarter. Finally, First Bank & Trust increased its stake in shares of Impinj by 9.5% in the fourth quarter. First Bank & Trust now owns 1,936 shares of the company’s stock worth $281,000 after buying an additional 168 shares during the period.

Impinj Trading Down 3.6 %

Shares of PI stock opened at $91.16 on Thursday. The company’s fifty day moving average price is $118.43 and its 200-day moving average price is $163.18. The stock has a market cap of $2.60 billion, a PE ratio of 67.03 and a beta of 1.98. Impinj, Inc. has a 12 month low of $84.17 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data 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%. On average, sell-side analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PI shares. Susquehanna dropped their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. The Goldman Sachs Group cut their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, Needham & Company LLC decreased their target price on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.10.

Insider Activity at Impinj

In related news, insider Cathal G. Phelan sold 210 shares of the business’s 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 $30,672.60. Following the completion of the transaction, the insider now directly owns 6,979 shares in the company, valued at $1,019,352.74. The trade was a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jeffrey Dossett sold 580 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $84,714.80. Following the sale, the executive now owns 66,180 shares in the company, valued at approximately $9,666,250.80. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,323 shares of company stock valued at $2,454,588 in the last 90 days. Corporate 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.