DnB Asset Management AS Has $572,000 Stock Holdings in Impinj, Inc. (NASDAQ:PI)

DnB Asset Management AS increased its stake in Impinj, Inc. (NASDAQ:PI) by 220.8% during the fourth quarter, Holdings Channel reports. The firm owned 3,936 shares of the company’s stock after acquiring an additional 2,709 shares during the period. DnB Asset Management AS’s holdings in Impinj were worth $572,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB acquired a new position in shares of Impinj in the fourth quarter worth approximately $3,341,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Impinj in the 3rd quarter worth about $846,000. Asset Management One Co. Ltd. lifted its position in Impinj by 85.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company’s stock valued at $174,000 after acquiring an additional 542 shares in the last quarter. Geode Capital Management LLC increased its holdings in Impinj by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after purchasing an additional 7,676 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in shares of Impinj by 92.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock worth $20,454,000 after purchasing an additional 67,510 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. Needham & Company LLC decreased their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Piper Sandler cut their target price on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.44.

Impinj Price Performance

Shares of NASDAQ PI opened at $91.06 on Thursday. The stock has a market capitalization of $2.60 billion, a PE ratio of 66.96 and a beta of 1.74. Impinj, Inc. has a one year low of $83.53 and a one year high of $239.88. The business’s fifty day moving average price is $102.76 and its 200-day moving average price is $154.94.

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

Insider Activity at Impinj

In other Impinj news, CFO Cary Baker sold 290 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $140.96, for a total value of $40,878.40. Following the completion of the transaction, the chief financial officer now owns 71,754 shares in the company, valued at $10,114,443.84. This trade represents a 0.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the transaction, the chief executive officer now directly owns 354,076 shares of the company’s stock, valued at $34,975,627.28. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,704 shares of company stock worth $1,925,748. 51.00% of the stock is owned by corporate insiders.

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.