Taylor Frigon Capital Management LLC Lowers Position in Impinj, Inc. (NASDAQ:PI)

Taylor Frigon Capital Management LLC cut its stake in Impinj, Inc. (NASDAQ:PI) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,765 shares of the company’s stock after selling 2,487 shares during the quarter. Impinj accounts for about 1.4% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 22nd biggest position. Taylor Frigon Capital Management LLC owned approximately 0.07% of Impinj worth $2,726,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James & Associates grew its holdings in shares of Impinj by 21.7% in the third quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock valued at $4,969,000 after acquiring an additional 4,090 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Impinj by 157.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company’s stock valued at $2,009,000 after acquiring an additional 5,669 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Impinj in the third quarter valued at approximately $2,813,000. New York State Teachers Retirement System bought a new position in shares of Impinj in the third quarter valued at approximately $1,126,000. Finally, Farther Finance Advisors LLC grew 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 valued at $33,000 after acquiring an additional 141 shares in the last quarter.

Insider Buying and Selling

In related news, insider Cathal G. Phelan sold 210 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $30,672.60. Following the sale, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Jeffrey Dossett sold 580 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $84,714.80. Following the completion of the sale, the executive now owns 66,180 shares in the company, valued at $9,666,250.80. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,323 shares of company stock worth $2,454,588. Corporate insiders own 51.00% of the company’s stock.

Impinj Price Performance

NASDAQ:PI opened at $96.28 on Thursday. The company has a market cap of $2.75 billion, a P/E ratio of 70.79 and a beta of 1.88. The stock’s fifty day moving average price is $129.92 and its two-hundred day moving average price is $168.24. Impinj, Inc. has a 1 year low of $91.99 and a 1 year high of $239.88.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PI shares. The Goldman Sachs Group reduced their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald reduced their price objective on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Susquehanna reduced their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Finally, Needham & Company LLC reduced their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.10.

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.