Zurcher Kantonalbank Zurich Cantonalbank Has $919,000 Stock Position in Impinj, Inc. (NASDAQ:PI)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Impinj, Inc. (NASDAQ:PI) by 17.1% in the 4th quarter, HoldingsChannel reports. The fund owned 6,329 shares of the company’s stock after acquiring an additional 923 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Impinj were worth $919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC increased its position in Impinj by 1.5% in the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after acquiring an additional 60,461 shares during the period. State Street Corp boosted its stake in shares of Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after purchasing an additional 220,776 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Impinj by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after purchasing an additional 7,676 shares during the last quarter. Jennison Associates LLC increased its position in shares of Impinj by 15.0% during the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after buying an additional 31,269 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Impinj by 10.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company’s stock worth $30,998,000 after buying an additional 20,158 shares during the period.

Impinj Trading Down 4.3 %

NASDAQ:PI opened at $90.05 on Friday. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 66.21 and a beta of 1.98. The firm has a fifty day simple moving average of $111.38 and a two-hundred day simple moving average of $160.12. Impinj, Inc. has a 12 month low of $84.17 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly 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%. Equities analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Chris Ph.D. Diorio sold 1,504 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total transaction of $219,914.88. Following the transaction, the chief executive officer now directly owns 331,572 shares of the company’s stock, valued at $48,482,457.84. This trade represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Jeffrey Dossett sold 580 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $84,714.80. Following the transaction, the executive now directly owns 66,180 shares in the company, valued at $9,666,250.80. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,323 shares of company stock worth $2,454,588 over the last three months. 51.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on PI. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Piper Sandler decreased their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Susquehanna decreased their price objective 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 decreased their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.