K.J. Harrison & Partners Inc Sells 1,000 Shares of Impinj, Inc. (NASDAQ:PI)

K.J. Harrison & Partners Inc reduced its position in shares of Impinj, Inc. (NASDAQ:PI) by 21.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,700 shares of the company’s stock after selling 1,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Impinj were worth $543,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI purchased a new stake in Impinj in the third quarter worth $30,000. Farther Finance Advisors LLC raised its holdings in Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Impinj by 116.5% in the 4th quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after purchasing an additional 198 shares during the period. Spire Wealth Management purchased a new position in shares of Impinj during the fourth quarter valued at about $87,000. Finally, KBC Group NV raised its stake in Impinj by 33.5% in the fourth quarter. KBC Group NV now owns 909 shares of the company’s stock worth $132,000 after buying an additional 228 shares in the last quarter.

Impinj Stock Up 3.4 %

Shares of PI opened at $96.28 on Thursday. Impinj, Inc. has a twelve month low of $91.99 and a twelve month high of $239.88. The company has a market capitalization of $2.75 billion, a P/E ratio of 70.79 and a beta of 1.88. The firm has a 50 day moving average of $129.92 and a 200 day moving average of $168.24.

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

Insider Buying and Selling

In other Impinj news, insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the sale, the insider now directly owns 6,979 shares of the company’s stock, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Hussein Mecklai sold 826 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.07, for a total transaction of $120,653.82. Following the completion of the transaction, the chief operating officer now owns 60,830 shares in the company, valued at $8,885,438.10. The trade was a 1.34 % decrease in their ownership of the stock. 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. 51.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on PI shares. Needham & Company LLC cut their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group dropped their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Cantor Fitzgerald lowered their price objective on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Piper Sandler reduced their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.10.

About Impinj

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.