Impinj, Inc. (NASDAQ:PI) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its position in Impinj, Inc. (NASDAQ:PI) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,864 shares of the company’s stock after selling 2,955 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Impinj were worth $5,029,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. FMR LLC boosted its holdings in shares of Impinj by 0.8% in the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after acquiring an additional 31,289 shares during the period. Sylebra Capital LLC acquired a new stake in shares of Impinj in the third quarter valued at approximately $217,290,000. Sylebra Capital Ltd lifted its holdings in shares of Impinj by 4.1% during the first quarter. Sylebra Capital Ltd now owns 2,848,085 shares of the company’s stock worth $385,972,000 after purchasing an additional 111,697 shares during the period. BlackRock Inc. lifted its holdings in shares of Impinj by 1.5% during the first quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock worth $89,758,000 after purchasing an additional 20,404 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Impinj by 13.9% during the third quarter. Vanguard Group Inc. now owns 1,251,084 shares of the company’s stock worth $100,124,000 after purchasing an additional 153,039 shares during the period.

Impinj Trading Down 1.2 %

NASDAQ:PI opened at $118.50 on Tuesday. The stock has a fifty day moving average price of $115.28 and a two-hundred day moving average price of $90.84. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -73.15 and a beta of 2.05. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. Impinj, Inc. has a 1 year low of $48.39 and a 1 year high of $142.70.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The business had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $67.10 million. As a group, sell-side analysts anticipate that Impinj, Inc. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PI has been the subject of several recent research reports. Susquehanna increased their price target on Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a report on Friday, February 9th. Canaccord Genuity Group increased their price target on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Needham & Company LLC increased their price target on Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. The Goldman Sachs Group increased their price target on Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, StockNews.com raised Impinj to a “sell” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $114.38.

Insider Activity

In other news, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the transaction, the chief operating officer now owns 40,489 shares in the company, valued at $4,243,247.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Cary Baker sold 20,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the sale, the chief financial officer now owns 55,432 shares of the company’s stock, valued at $5,661,824.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $104.80, for a total value of $3,144,000.00. Following the sale, the chief operating officer now directly owns 40,489 shares in the company, valued at approximately $4,243,247.20. The disclosure for this sale can be found here. Insiders sold a total of 117,634 shares of company stock worth $12,464,886 over the last 90 days. 17.10% of the stock is currently owned by corporate insiders.

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.