Royce & Associates LP Grows Holdings in Impinj, Inc. (NASDAQ:PI)

Royce & Associates LP grew its stake in Impinj, Inc. (NASDAQ:PI) by 5.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 208,864 shares of the company’s stock after acquiring an additional 10,594 shares during the period. Royce & Associates LP’s holdings in Impinj were worth $30,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB purchased a new stake in shares of Impinj in the 4th quarter valued at approximately $3,341,000. Thrivent Financial for Lutherans purchased a new stake in shares of Impinj in the 3rd quarter valued at approximately $3,872,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Impinj in the 3rd quarter valued at approximately $846,000. Intech Investment Management LLC purchased a new stake in shares of Impinj in the 3rd quarter valued at approximately $1,437,000. Finally, Mutual of America Capital Management LLC purchased a new stake in shares of Impinj in the 3rd quarter valued at approximately $742,000.

Insider Activity

In other news, insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the completion of the transaction, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. This represents a 2.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Cary Baker sold 1,553 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the sale, the chief financial officer now owns 76,451 shares of the company’s stock, valued at approximately $7,550,300.76. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,323 shares of company stock worth $2,454,588. Corporate insiders own 51.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PI has been the subject of a number of research reports. Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a report on Thursday, February 27th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. The Goldman Sachs Group dropped their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Needham & Company LLC dropped their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Susquehanna dropped their price objective 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. One 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.44.

Impinj Stock Up 1.0 %

NASDAQ PI opened at $90.34 on Friday. Impinj, Inc. has a 52 week low of $84.17 and a 52 week high of $239.88. The stock has a market capitalization of $2.58 billion, a PE ratio of 66.43 and a beta of 1.98. The firm has a 50 day moving average of $116.06 and a two-hundred day moving average of $162.15.

Impinj (NASDAQ:PI) last posted 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, equities research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

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.