Envestnet Asset Management Inc. Reduces Holdings in Impinj, Inc. (NASDAQ:PI)

Envestnet Asset Management Inc. trimmed its position in shares of Impinj, Inc. (NASDAQ:PIGet Rating) by 10.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,000 shares of the company’s stock after selling 4,372 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Impinj were worth $2,112,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PI. Calamos Advisors LLC increased its position in shares of Impinj by 5.5% during the first quarter. Calamos Advisors LLC now owns 45,067 shares of the company’s stock worth $2,864,000 after purchasing an additional 2,347 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Impinj by 49.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock valued at $138,000 after buying an additional 722 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Impinj by 430.3% in the 1st quarter. Victory Capital Management Inc. now owns 596,683 shares of the company’s stock valued at $37,914,000 after buying an additional 484,163 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Impinj by 11.0% in the 1st quarter. Russell Investments Group Ltd. now owns 31,860 shares of the company’s stock valued at $2,022,000 after buying an additional 3,167 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Impinj by 10.1% in the 1st quarter. New York State Common Retirement Fund now owns 14,365 shares of the company’s stock valued at $913,000 after buying an additional 1,320 shares in the last quarter. 91.11% of the stock is currently owned by hedge funds and other institutional investors.

Impinj Stock Performance

Shares of Impinj stock opened at $114.95 on Friday. Impinj, Inc. has a 52 week low of $39.74 and a 52 week high of $119.99. The business’s fifty day simple moving average is $93.96 and its 200-day simple moving average is $76.28. The firm has a market cap of $2.98 billion, a PE ratio of -64.94 and a beta of 2.26. The company has a quick ratio of 6.78, a current ratio of 7.73 and a debt-to-equity ratio of 135.78.

Impinj (NASDAQ:PIGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.17. Impinj had a negative return on equity of 236.49% and a negative net margin of 18.91%. The business had revenue of $68.27 million for the quarter, compared to analyst estimates of $64.67 million. Equities analysts forecast that Impinj, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Chris Ph.D. Diorio sold 5,000 shares of the stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $116.97, for a total transaction of $584,850.00. Following the transaction, the chief executive officer now owns 289,307 shares of the company’s stock, valued at approximately $33,840,239.79. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Impinj news, CFO Cary Baker sold 1,452 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $95.55, for a total transaction of $138,738.60. Following the sale, the chief financial officer now owns 34,112 shares in the company, valued at approximately $3,259,401.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $116.97, for a total value of $584,850.00. Following the sale, the chief executive officer now owns 289,307 shares in the company, valued at approximately $33,840,239.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 229,577 shares of company stock valued at $25,466,523. Corporate insiders own 20.20% of the company’s stock.

Analyst Ratings Changes

PI has been the subject of several analyst reports. Piper Sandler upped their target price on Impinj from $100.00 to $120.00 in a report on Thursday, October 27th. Canaccord Genuity Group upped their target price on Impinj from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, October 28th. Needham & Company LLC upped their target price on Impinj from $102.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, October 27th. StockNews.com started coverage on Impinj in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, Lake Street Capital upped their price target on Impinj from $94.00 to $109.00 in a research note on Thursday, October 27th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $105.00.

Impinj Company Profile

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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Institutional Ownership by Quarter for Impinj (NASDAQ:PI)

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