Swiss National Bank Raises Stock Position in Impinj, Inc. (NASDAQ:PI)

Swiss National Bank boosted its stake in Impinj, Inc. (NASDAQ:PI) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,000 shares of the company’s stock after purchasing an additional 900 shares during the period. Swiss National Bank’s holdings in Impinj were worth $6,827,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PI. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Impinj by 77.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,391 shares of the company’s stock valued at $9,063,000 after purchasing an additional 27,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Impinj by 17.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,329 shares of the company’s stock worth $919,000 after buying an additional 923 shares during the period. AlphaQuest LLC lifted its holdings in Impinj by 57.5% in the 4th quarter. AlphaQuest LLC now owns 1,482 shares of the company’s stock worth $215,000 after buying an additional 541 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in Impinj in the 4th quarter valued at about $1,126,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Impinj during the fourth quarter valued at about $27,699,000.

Insider Activity at Impinj

In other Impinj news, insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction dated 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 owns 6,979 shares in the company, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $369,450.59. Following the sale, the chief operating officer now directly owns 70,347 shares in the company, valued at approximately $6,950,987.07. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,323 shares of company stock worth $2,454,588 in the last 90 days. 51.00% of the stock is currently owned by company insiders.

Impinj Stock Performance

Impinj stock opened at $90.25 on Friday. Impinj, Inc. has a 1 year low of $84.17 and a 1 year high of $239.88. The firm’s 50-day moving average is $110.31 and its 200-day moving average is $159.56. The company has a market cap of $2.58 billion, a P/E ratio of 66.36 and a beta of 1.98.

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 net margin of 11.15% and a return on equity of 7.11%. As a group, sell-side analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PI. The Goldman Sachs Group reduced their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Piper Sandler reduced their target price on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC dropped their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, Cantor Fitzgerald raised shares of 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 issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.44.

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.