PNC Financial Services Group Inc. Sells 808 Shares of Impinj, Inc. (NASDAQ:PI)

PNC Financial Services Group Inc. trimmed its position in shares of Impinj, Inc. (NASDAQ:PIFree Report) by 20.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,133 shares of the company’s stock after selling 808 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Impinj were worth $282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Impinj by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock valued at $462,000 after purchasing an additional 115 shares during the period. GAMMA Investing LLC bought a new stake in shares of Impinj in the 4th quarter valued at about $40,000. CWM LLC increased its stake in shares of Impinj by 7.6% in the fourth quarter. CWM LLC now owns 6,624 shares of the company’s stock valued at $596,000 after buying an additional 467 shares during the period. UBS Group AG raised its position in shares of Impinj by 0.7% during the fourth quarter. UBS Group AG now owns 91,409 shares of the company’s stock worth $8,230,000 after acquiring an additional 637 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Impinj in the fourth quarter worth approximately $58,000.

Impinj Stock Up 2.2 %

PI stock opened at $156.77 on Monday. The stock’s 50 day simple moving average is $156.92 and its 200 day simple moving average is $123.55. The company has a market cap of $4.34 billion, a P/E ratio of -447.91 and a beta of 1.80. The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $175.41.

Impinj (NASDAQ:PIGet Free Report) last issued its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The company had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. On average, research analysts expect that Impinj, Inc. will post 0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

PI has been the subject of a number of recent analyst reports. Roth Mkm increased their target price on shares of Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Evercore ISI started coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an “outperform” rating and a $160.00 target price for the company. Susquehanna upped their price target on shares of Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Tuesday, April 23rd. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price objective on shares of Impinj in a research report on Wednesday, June 5th. Finally, The Goldman Sachs Group lowered Impinj from a “buy” rating to a “neutral” rating and set a $156.00 target price on the stock. in a research report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

Get Our Latest Stock Report on Impinj

Insider Transactions at Impinj

In other Impinj news, insider Cathal G. Phelan sold 212 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $147.52, for a total transaction of $31,274.24. Following the transaction, the insider now directly owns 16,669 shares in the company, valued at approximately $2,459,010.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Impinj news, insider Cathal G. Phelan sold 212 shares of Impinj stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $147.52, for a total transaction of $31,274.24. Following the transaction, the insider now owns 16,669 shares of the company’s stock, valued at approximately $2,459,010.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Hussein Mecklai sold 435 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $118.75, for a total value of $51,656.25. Following the completion of the transaction, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at $6,580,412.50. The disclosure for this sale can be found here. Insiders sold a total of 1,088,088 shares of company stock valued at $166,194,846 over the last ninety days. 51.00% of the stock is currently owned by insiders.

Impinj Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Impinj (NASDAQ:PI)

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