Envestnet Asset Management Inc. Sells 913 Shares of Impinj, Inc. (NASDAQ:PI)

Envestnet Asset Management Inc. reduced its position in shares of Impinj, Inc. (NASDAQ:PI) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,951 shares of the company’s stock after selling 913 shares during the period. Envestnet Asset Management Inc.’s holdings in Impinj were worth $864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Impinj in the third quarter worth approximately $1,749,000. Principal Financial Group Inc. lifted its position in shares of Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after purchasing an additional 122,579 shares during the period. Nordea Investment Management AB bought a new stake in shares of Impinj in the 4th quarter valued at $3,341,000. Diversified Trust Co increased its position in shares of Impinj by 11.9% during the fourth quarter. Diversified Trust Co now owns 2,251 shares of the company’s stock worth $327,000 after buying an additional 240 shares during the period. Finally, Harbour Capital Advisors LLC increased its position in shares of Impinj by 14.1% during the fourth quarter. Harbour Capital Advisors LLC now owns 3,445 shares of the company’s stock worth $521,000 after buying an additional 425 shares during the period.

Impinj Trading Up 3.0 %

Impinj stock opened at $94.93 on Friday. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 69.80 and a beta of 1.74. The firm’s fifty day moving average price is $84.65 and its two-hundred day moving average price is $133.84. Impinj, Inc. has a 1-year low of $60.85 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. The business had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. On average, research analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Analyst Upgrades and Downgrades

PI has been the topic of a number of research analyst reports. Piper Sandler cut their price target on shares of Impinj from $140.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Susquehanna decreased their target price on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. Evercore ISI lifted their target price on Impinj from $99.00 to $117.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Finally, Needham & Company LLC lowered their price objective on shares of Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

Insider Activity

In other news, COO Hussein Mecklai sold 3,739 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $369,450.59. Following the completion of the transaction, the chief operating officer now directly owns 70,347 shares of the company’s stock, valued at $6,950,987.07. This represents a 5.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cathal G. Phelan sold 565 shares of the company’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 in the company, valued at approximately $782,752.25. The trade was a 6.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,857 shares of company stock worth $1,665,290 over the last quarter. Insiders own 51.00% of the company’s stock.

Impinj Company Profile

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.