Principal Financial Group Inc. Has $12.39 Million Position in Impinj, Inc. (NASDAQ:PI)

Principal Financial Group Inc. cut its stake in shares of Impinj, Inc. (NASDAQ:PI) by 10.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 136,585 shares of the company’s stock after selling 16,322 shares during the period. Principal Financial Group Inc. owned about 0.47% of Impinj worth $12,388,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in shares of Impinj by 205.9% during 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 last quarter. Charles Schwab Investment Management Inc. raised its position in Impinj by 10.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company’s stock valued at $30,998,000 after acquiring an additional 20,158 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Impinj by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 20,825 shares of the company’s stock valued at $3,025,000 after acquiring an additional 1,363 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Impinj in the fourth quarter worth approximately $1,625,000. Finally, Raymond James Financial Inc. bought a new stake in Impinj in the fourth quarter worth approximately $27,699,000.

Impinj Price Performance

NASDAQ PI opened at $116.81 on Friday. The company has a current ratio of 10.96, a quick ratio of 7.46 and a debt-to-equity ratio of 1.77. The company has a fifty day simple moving average of $112.38 and a 200 day simple moving average of $107.47. The company has a market cap of $3.39 billion, a P/E ratio of -2,919.52 and a beta of 1.64. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 negative net margin of 0.26% and a positive return on equity of 6.45%. Impinj’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. On average, sell-side analysts predict that Impinj, Inc. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

PI has been the subject of several recent research reports. Evercore ISI boosted their target price on shares of Impinj from $99.00 to $117.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Piper Sandler reissued an “overweight” rating and issued a $100.00 target price on shares of Impinj in a research report on Thursday, June 12th. Needham & Company LLC decreased their target price on shares of Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $133.00 target price on shares of Impinj in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $155.38.

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.