Truist Financial Corp Sells 4,083 Shares of Impinj, Inc. (NASDAQ:PI)

Truist Financial Corp reduced its stake in Impinj, Inc. (NASDAQ:PI) by 64.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,276 shares of the company’s stock after selling 4,083 shares during the period. Truist Financial Corp’s holdings in Impinj were worth $357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj in the 1st quarter valued at about $32,000. Deltec Asset Management LLC acquired a new stake in shares of Impinj in the 1st quarter valued at about $584,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Impinj by 117.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after purchasing an additional 521 shares during the period. Principal Financial Group Inc. raised its stake in shares of Impinj by 16.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock valued at $403,000 after purchasing an additional 454 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Impinj by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after purchasing an additional 7,247 shares during the period.

Insider Activity at Impinj

In other Impinj news, CRO Jeffrey Dossett sold 15,000 shares of Impinj stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the transaction, the executive now owns 63,642 shares of the company’s stock, valued at $10,043,344.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Chris Ph.D. Diorio sold 1,498 shares of Impinj stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total value of $313,261.76. Following the sale, the chief executive officer now owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jeffrey Dossett sold 15,000 shares of Impinj stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the completion of the sale, the executive now directly owns 63,642 shares in the company, valued at $10,043,344.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,779 shares of company stock valued at $3,825,046. 51.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price target on shares of Impinj in a research report on Thursday, July 25th. Lake Street Capital boosted their price target on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI boosted their price target on Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $225.00 price target (up previously from $180.00) on shares of Impinj in a research report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Impinj currently has an average rating of “Moderate Buy” and an average target price of $191.60.

Impinj Price Performance

Shares of PI opened at $229.76 on Friday. The stock has a 50-day moving average of $189.41 and a 200-day moving average of $165.17. The company has a market cap of $6.37 billion, a PE ratio of -656.46 and a beta of 1.80. Impinj, Inc. has a one year low of $48.39 and a one year high of $239.88.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. The company had revenue of $102.50 million during the quarter, compared to the consensus estimate of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the business posted ($0.14) EPS. Analysts expect that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

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.