Mercer Global Advisors Inc. ADV Boosts Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Mercer Global Advisors Inc. ADV raised its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 6.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,641 shares of the company’s stock after purchasing an additional 106 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Impinj were worth $238,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Capital International Investors boosted its holdings in shares of Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock valued at $221,897,000 after buying an additional 473,721 shares in the last quarter. Norges Bank bought a new stake in shares of Impinj in the 4th quarter valued at about $40,100,000. Raymond James Financial Inc. bought a new stake in shares of Impinj in the 4th quarter valued at about $27,699,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Impinj by 244.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 219,081 shares of the company’s stock valued at $31,825,000 after buying an additional 155,543 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Impinj by 272.6% in the 4th quarter. Federated Hermes Inc. now owns 193,480 shares of the company’s stock valued at $28,105,000 after buying an additional 141,554 shares in the last quarter.

Impinj Stock Up 2.7%

PI stock opened at $125.05 on Friday. The firm has a 50 day moving average of $87.71 and a 200 day moving average of $125.59. The stock has a market capitalization of $3.62 billion, a PE ratio of 91.95 and a beta of 1.64. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Evercore ISI raised their price target on shares of Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Piper Sandler lowered their price target on shares of Impinj from $140.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $133.00 target price on shares of Impinj in a research note on Thursday, April 24th. Finally, 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 research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.38.

Insider Buying and Selling at Impinj

In other Impinj news, insider Cathal G. Phelan sold 565 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the sale, the insider now directly owns 7,925 shares in the company, valued at approximately $782,752.25. The trade was a 6.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 directly owns 76,451 shares of the company’s stock, valued at approximately $7,550,300.76. This trade represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,857 shares of company stock worth $1,665,290. Company insiders own 12.40% of the company’s stock.

Impinj 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.