US Bancorp DE Reduces Holdings in Impinj, Inc. (NASDAQ:PI)

US Bancorp DE decreased its holdings in Impinj, Inc. (NASDAQ:PI) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,384 shares of the company’s stock after selling 102 shares during the quarter. US Bancorp DE’s holdings in Impinj were worth $516,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. First Bank & Trust boosted its holdings in shares of Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after buying an additional 55 shares during the last quarter. Hsbc Holdings PLC raised its stake in Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after acquiring an additional 190 shares during the period. 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 during the period. Future Financial Wealth Managment LLC bought a new stake in Impinj during the 3rd quarter worth approximately $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 during the period.

Impinj Price Performance

NASDAQ PI opened at $199.30 on Tuesday. The company has a market capitalization of $5.64 billion, a PE ratio of 228.88 and a beta of 1.81. The company has a fifty day moving average of $203.31 and a 200 day moving average of $175.01. Impinj, Inc. has a 1 year low of $69.50 and a 1 year high of $239.88.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PI shares. Piper Sandler reiterated an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Needham & Company LLC lifted their price objective 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 boosted their target price on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Insider Activity at Impinj

In related news, insider Cathal G. Phelan sold 209 shares of the company’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 approximately $3,690,870.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Cathal G. Phelan sold 209 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total value 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Cathal G. Phelan sold 677 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $162.46, for a total transaction of $109,985.42. Following the completion of the sale, the insider now directly owns 17,367 shares of the company’s stock, valued at approximately $2,821,442.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 317,685 shares of company stock valued at $63,262,298. Corporate insiders own 51.00% of the company’s stock.

About Impinj

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.