Russell Investments Group Ltd. Has $873,000 Holdings in Impinj, Inc. (NASDAQ:PI)

Russell Investments Group Ltd. lowered its position in Impinj, Inc. (NASDAQ:PI) by 60.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,010 shares of the company’s stock after selling 9,088 shares during the period. Russell Investments Group Ltd.’s holdings in Impinj were worth $873,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hillsdale Investment Management Inc. grew its position in shares of Impinj by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock worth $3,586,000 after buying an additional 95 shares during the period. Louisiana State Employees Retirement System grew its holdings in Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock worth $1,612,000 after purchasing an additional 100 shares during the period. Cynosure Group LLC increased its stake in Impinj by 7.8% in the fourth quarter. Cynosure Group LLC now owns 1,953 shares of the company’s stock valued at $284,000 after purchasing an additional 142 shares in the last quarter. Xponance Inc. raised its holdings in shares of Impinj by 10.5% during the fourth quarter. Xponance Inc. now owns 1,660 shares of the company’s stock valued at $241,000 after purchasing an additional 158 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Impinj by 2.4% during the 4th quarter. Arizona State Retirement System now owns 6,945 shares of the company’s stock worth $1,009,000 after purchasing an additional 160 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Piper Sandler dropped their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Susquehanna reduced their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. The Goldman Sachs Group lowered their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC lowered their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Impinj has a consensus rating of “Moderate Buy” and a consensus target price of $183.44.

Insiders Place Their Bets

In related news, COO Hussein Mecklai sold 3,739 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.81, for a total transaction of $369,450.59. Following the sale, the chief operating officer now owns 70,347 shares of the company’s stock, valued at approximately $6,950,987.07. This represents a 5.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the transaction, the chief executive officer now directly owns 354,076 shares of the company’s stock, valued at $34,975,627.28. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,857 shares of company stock valued at $1,665,290 over the last ninety days. 51.00% of the stock is currently owned by insiders.

Impinj Stock Performance

Shares of NASDAQ:PI opened at $69.67 on Tuesday. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88. The company’s 50-day moving average is $86.89 and its 200 day moving average is $140.44. The company has a market capitalization of $1.99 billion, a P/E ratio of 51.23 and a beta of 1.74.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. As a group, research analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current year.

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.