Impinj, Inc. (NASDAQ:PI) Shares Purchased by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. grew its position in shares of Impinj, Inc. (NASDAQ:PI) by 30.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,084 shares of the company’s stock after purchasing an additional 4,467 shares during the period. EFG Asset Management North America Corp. owned 0.07% of Impinj worth $2,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mutual of America Capital Management LLC acquired a new stake in shares of Impinj during the third quarter worth $742,000. Quest Partners LLC boosted its stake in Impinj by 8,454.5% in the 3rd quarter. Quest Partners LLC now owns 941 shares of the company’s stock worth $204,000 after buying an additional 930 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Impinj in the 3rd quarter valued at about $1,437,000. Charles Schwab Investment Management Inc. increased its stake in shares of Impinj by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock valued at $41,840,000 after acquiring an additional 6,232 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Impinj by 7.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,736 shares of the company’s stock valued at $2,974,000 after acquiring an additional 983 shares during the last quarter.

Impinj Price Performance

Shares of PI opened at $91.62 on Wednesday. Impinj, Inc. has a 12 month low of $84.17 and a 12 month high of $239.88. The stock’s 50-day moving average is $108.05 and its two-hundred day moving average is $158.54. The stock has a market cap of $2.61 billion, a PE ratio of 67.37 and a beta of 1.98.

Impinj (NASDAQ:PI) last released its quarterly earnings results 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 return on equity of 7.11% and a net margin of 11.15%. On average, research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on PI. Susquehanna lowered their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Piper Sandler lowered their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group cut their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.44.

Insider Transactions at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the sale, the chief executive officer now directly owns 354,076 shares in the company, valued at $34,975,627.28. The trade was a 2.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jeffrey Dossett sold 378 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $141.05, for a total value of $53,316.90. Following the completion of the transaction, the executive now directly owns 67,052 shares in the company, valued at approximately $9,457,684.60. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,704 shares of company stock valued at $1,925,748. Corporate insiders own 51.00% of the company’s stock.

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.