Mirae Asset Global Investments Co. Ltd. Lowers Position in Impinj, Inc. (NASDAQ:PI)

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Impinj, Inc. (NASDAQ:PI) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,864 shares of the company’s stock after selling 2,955 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.21% of Impinj worth $5,029,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in shares of Impinj by 0.8% during the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after acquiring an additional 31,289 shares in the last quarter. Sylebra Capital LLC acquired a new position in shares of Impinj during the third quarter valued at about $217,290,000. Sylebra Capital Ltd increased its holdings in shares of Impinj by 4.1% during the first quarter. Sylebra Capital Ltd now owns 2,848,085 shares of the company’s stock valued at $385,972,000 after acquiring an additional 111,697 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Impinj by 1.5% during the first quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock valued at $89,758,000 after acquiring an additional 20,404 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Impinj by 13.9% during the third quarter. Vanguard Group Inc. now owns 1,251,084 shares of the company’s stock valued at $100,124,000 after acquiring an additional 153,039 shares in the last quarter.

Impinj Price Performance

Shares of NASDAQ PI opened at $118.50 on Tuesday. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -73.15 and a beta of 2.05. Impinj, Inc. has a 12 month low of $48.39 and a 12 month high of $142.70. The firm’s 50 day simple moving average is $115.28 and its 200-day simple moving average is $90.84. The company has a debt-to-equity ratio of 8.26, a current ratio of 8.73 and a quick ratio of 5.59.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. The business had revenue of $70.65 million for the quarter, compared to analysts’ expectations of $67.10 million. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. Analysts expect that Impinj, Inc. will post -0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PI shares. Canaccord Genuity Group upped their price objective on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Needham & Company LLC increased their price target on shares of Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Roth Mkm increased their price target on shares of Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. StockNews.com upgraded shares of Impinj to a “sell” rating in a report on Friday, February 9th. Finally, Susquehanna increased their price target on shares of Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $114.38.

Insider Transactions at Impinj

In other news, CFO Cary Baker sold 306 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $123.55, for a total transaction of $37,806.30. Following the transaction, the chief financial officer now owns 65,748 shares in the company, valued at approximately $8,123,165.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Chris Ph.D. Diorio sold 2,953 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $127.19, for a total transaction of $375,592.07. Following the transaction, the chief executive officer now owns 284,349 shares in the company, valued at approximately $36,166,349.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Cary Baker sold 306 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $123.55, for a total value of $37,806.30. Following the transaction, the chief financial officer now owns 65,748 shares in the company, valued at approximately $8,123,165.40. The disclosure for this sale can be found here. Insiders have sold 117,634 shares of company stock valued at $12,464,886 in the last 90 days. 17.10% of the stock is currently owned by company insiders.

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.