Impinj, Inc. (NASDAQ:PI) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its position in Impinj, Inc. (NASDAQ:PI) by 4.1% during the third quarter, Holdings Channel.com reports. The firm owned 2,384 shares of the company’s stock after selling 102 shares during the period. US Bancorp DE’s holdings in Impinj were worth $516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. First Bank & Trust raised its holdings in shares of Impinj by 3.2% in the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock valued at $383,000 after purchasing an additional 55 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after purchasing an additional 190 shares in the last quarter. Rhumbline Advisers raised its stake in Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after acquiring an additional 248 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the 3rd quarter worth $54,000. Finally, Arizona State Retirement System raised its stake in Impinj by 4.1% during the 2nd quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock worth $1,032,000 after acquiring an additional 261 shares in the last quarter.

Impinj Stock Down 2.1 %

Shares of NASDAQ:PI opened at $199.30 on Tuesday. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 228.88 and a beta of 1.81. The firm’s 50-day simple moving average is $203.31 and its 200-day simple moving average is $175.01. Impinj, Inc. has a fifty-two week low of $69.50 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.36) earnings per share. On average, research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

PI has been the topic of several research analyst reports. Needham & Company LLC lifted their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Lake Street Capital lifted their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Evercore ISI reiterated an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $235.00 price target (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Insider Activity

In related news, insider Cathal G. Phelan sold 677 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $162.46, for a total value of $109,985.42. Following the completion of the sale, the insider now owns 17,367 shares in the company, valued at $2,821,442.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Cathal G. Phelan sold 677 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $162.46, for a total value of $109,985.42. Following the completion of the sale, the insider now owns 17,367 shares in the company, valued at $2,821,442.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cathal G. Phelan sold 209 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the sale, the insider now owns 17,647 shares of the company’s stock, valued at $3,690,870.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 317,685 shares of company stock valued at $63,262,298 over the last quarter. 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.