Wasatch Advisors LP Sells 129,488 Shares of Impinj, Inc. (NASDAQ:PI)

Wasatch Advisors LP decreased its position in shares of Impinj, Inc. (NASDAQ:PI) by 74.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,301 shares of the company’s stock after selling 129,488 shares during the quarter. Wasatch Advisors LP owned 0.16% of Impinj worth $9,592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Bank & Trust lifted its holdings in shares of Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after acquiring an additional 55 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares during the last quarter. KBC Group NV lifted its holdings in shares of Impinj by 29.7% in the third quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after acquiring an additional 156 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after acquiring an additional 190 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Impinj by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock valued at $5,158,000 after buying an additional 248 shares during the last quarter.

Insider Transactions at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of Impinj stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. This trade represents a 14.81 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the sale, the insider now directly owns 17,647 shares of the company’s stock, valued at approximately $3,690,870.05. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 655,674 shares of company stock valued at $131,623,305 in the last quarter. 51.00% of the stock is currently owned by company insiders.

Impinj Stock Performance

NASDAQ:PI opened at $192.21 on Friday. The company has a market capitalization of $5.44 billion, a PE ratio of 215.97 and a beta of 1.81. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The company has a 50 day simple moving average of $205.94 and a two-hundred day simple moving average of $177.87.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company’s quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.36) EPS. Research analysts predict that Impinj, Inc. will post 0.4 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald raised their price objective on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and issued a $270.00 price objective (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Lake Street Capital raised their price objective on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Susquehanna raised their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

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.