Proficio Capital Partners LLC Buys Shares of 11,185 Impinj, Inc. (NASDAQ:PI)

Proficio Capital Partners LLC acquired a new stake in shares of Impinj, Inc. (NASDAQ:PI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,185 shares of the company’s stock, valued at approximately $1,625,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI bought a new position in Impinj in the third quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Impinj during the 4th quarter valued at $33,000. Jones Financial Companies Lllp boosted its holdings in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after buying an additional 175 shares during the period. IFP Advisors Inc lifted its position in shares of Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock valued at $53,000 after acquiring an additional 198 shares in the last quarter. Finally, Spire Wealth Management purchased a new stake in Impinj during the 4th quarter valued at approximately $87,000.

Insiders Place Their Bets

In other Impinj news, insider Cathal G. Phelan sold 210 shares of the stock in a transaction dated Tuesday, December 24th. The shares were 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 of the company’s stock, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Cary Baker sold 290 shares of Impinj stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $140.96, for a total transaction of $40,878.40. Following the completion of the transaction, the chief financial officer now directly owns 71,754 shares in the company, valued at approximately $10,114,443.84. The trade was a 0.40 % 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. 51.00% of the stock is currently owned by company insiders.

Impinj Trading Up 2.8 %

NASDAQ:PI opened at $94.06 on Thursday. The stock has a fifty day simple moving average of $112.58 and a 200-day simple moving average of $160.61. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 69.16 and a beta of 1.98. Impinj, Inc. has a twelve month low of $84.17 and a twelve month high of $239.88.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS 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%. As a group, equities research analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

PI has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Piper Sandler lowered their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Needham & Company LLC lowered their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and a consensus price target of $183.44.

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.