Wells Fargo & Company MN Grows Position in Impinj, Inc. (NASDAQ:PI)

Wells Fargo & Company MN raised its position in Impinj, Inc. (NASDAQ:PI) by 41.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,283 shares of the company’s stock after buying an additional 7,647 shares during the quarter. Wells Fargo & Company MN owned approximately 0.09% of Impinj worth $3,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Impinj during the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp increased its stake in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after buying an additional 175 shares during the period. IFP Advisors Inc raised its position in Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after buying an additional 198 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of Impinj in the 4th quarter worth $87,000. Finally, KBC Group NV boosted its holdings in shares of Impinj by 33.5% in the fourth quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after acquiring an additional 228 shares in the last quarter.

Impinj Stock Up 1.5 %

Impinj stock opened at $69.67 on Tuesday. The firm has a fifty day moving average of $86.89 and a 200-day moving average of $140.44. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88. The firm 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 quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, research analysts expect that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PI has been the topic of a number of analyst reports. Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a report on Thursday, February 27th. Needham & Company LLC dropped their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. The Goldman Sachs Group lowered their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Finally, Piper Sandler decreased their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and a consensus target price of $183.44.

Insider Activity at Impinj

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the sale, the chief executive officer now owns 354,076 shares of the company’s stock, valued at $34,975,627.28. This trade represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Cary Baker sold 1,553 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the transaction, the chief financial officer now directly owns 76,451 shares in the company, valued at $7,550,300.76. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,857 shares of company stock worth $1,665,290 in the last three months. 51.00% of the stock is owned by company insiders.

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.