Asset Management One Co. Ltd. lowered its stake in shares of Impinj, Inc. (NASDAQ:PI – Get Rating) by 32.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,752 shares of the company's stock after selling 828 shares during the period. Asset Management One Co. Ltd.'s holdings in Impinj were worth $140,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PI. Advisors Asset Management Inc. acquired a new position in Impinj during the first quarter worth $39,000. Vectors Research Management LLC acquired a new position in shares of Impinj in the 2nd quarter valued at $59,000. Great West Life Assurance Co. Can lifted its stake in shares of Impinj by 31.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,104 shares of the company's stock valued at $88,000 after purchasing an additional 266 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Impinj in the 1st quarter valued at $101,000. Finally, Adalta Capital Management LLC acquired a new position in shares of Impinj in the 2nd quarter valued at $176,000. Institutional investors and hedge funds own 97.32% of the company's stock.
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Insiders Place Their Bets
In other Impinj news, CFO Cary Baker sold 1,457 shares of the company's stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $123.40, for a total transaction of $179,793.80. Following the sale, the chief financial officer now owns 35,559 shares in the company, valued at approximately $4,387,980.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Cary Baker sold 1,457 shares of the stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $123.40, for a total value of $179,793.80. Following the transaction, the chief financial officer now owns 35,559 shares in the company, valued at approximately $4,387,980.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chris Ph.D. Diorio sold 612 shares of the stock in a transaction dated Friday, December 16th. The shares were sold at an average price of $109.79, for a total value of $67,191.48. Following the completion of the transaction, the chief executive officer now owns 283,591 shares in the company, valued at approximately $31,135,455.89. The disclosure for this sale can be found here. Insiders have sold a total of 452,413 shares of company stock worth $53,352,919 in the last quarter. 20.20% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on PI shares. The Goldman Sachs Group upped their price target on Impinj from $100.00 to $111.00 and gave the company a "buy" rating in a research note on Monday, December 5th. Canaccord Genuity Group upped their price target on Impinj from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, October 28th. StockNews.com began coverage on Impinj in a research note on Wednesday, October 12th. They issued a "sell" rating on the stock. Piper Sandler boosted their price objective on Impinj from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, January 27th. Finally, Lake Street Capital boosted their price objective on Impinj from $109.00 to $132.00 in a report on Wednesday, January 11th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, Impinj has a consensus rating of "Moderate Buy" and a consensus price target of $120.14.
Impinj Price Performance
Shares of NASDAQ PI opened at $135.27 on Friday. The stock's 50-day moving average is $118.92 and its two-hundred day moving average is $101.39. The company has a debt-to-equity ratio of 135.78, a current ratio of 7.73 and a quick ratio of 6.78. Impinj, Inc. has a 1-year low of $39.74 and a 1-year high of $142.78. The company has a market cap of $3.51 billion, a price-to-earnings ratio of -76.42, a price-to-earnings-growth ratio of 23.60 and a beta of 2.36.
Impinj Profile
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IImpinj, Inc engages in the development and sale of RAIN, a radio frequency identification solution. Its platform allows inventory management, patient safety, asset tracking and item authentication for the retail, healthcare, supply chain and logistics, hospitality, food and beverage, and industrial manufacturing industries.
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