Impinj, Inc. (NASDAQ:PI) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can increased its holdings in Impinj, Inc. (NASDAQ:PI) by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,781 shares of the company’s stock after buying an additional 260 shares during the period. Bank of Montreal Can’s holdings in Impinj were worth $404,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB purchased a new position in shares of Impinj during the fourth quarter valued at approximately $3,341,000. Asset Management One Co. Ltd. lifted its stake in shares of Impinj by 85.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company’s stock worth $174,000 after purchasing an additional 542 shares during the period. TimesSquare Capital Management LLC lifted its stake in shares of Impinj by 92.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock worth $20,454,000 after purchasing an additional 67,510 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Impinj by 7.0% during the fourth quarter. Victory Capital Management Inc. now owns 20,825 shares of the company’s stock worth $3,025,000 after purchasing an additional 1,363 shares during the last quarter. Finally, KBC Group NV grew its position 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 purchasing an additional 228 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PI shares. Susquehanna reduced their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a report on Thursday, February 27th. The Goldman Sachs Group lowered their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Piper Sandler dropped their price target on shares of Impinj from $140.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Needham & Company LLC decreased their price target 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Impinj Price Performance

Shares of Impinj stock opened at $74.29 on Wednesday. The stock has a 50-day simple moving average of $86.30 and a 200-day simple moving average of $139.98. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 54.63 and a beta of 1.74.

Impinj (NASDAQ:PI) last released its 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 net margin of 11.15% and a return on equity of 7.11%. As a group, equities research analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current year.

Insider Activity

In related news, CFO Cary Baker sold 1,553 shares of Impinj 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 owns 76,451 shares of the company’s stock, valued at $7,550,300.76. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cathal G. Phelan sold 565 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the transaction, the insider now owns 7,925 shares of the company’s stock, valued at $782,752.25. This represents a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,857 shares of company stock worth $1,665,290. 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.