Virtu Financial LLC Sells 6,101 Shares of Impinj, Inc. (NASDAQ:PI)

Virtu Financial LLC trimmed its position in Impinj, Inc. (NASDAQ:PI) by 75.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,977 shares of the company’s stock after selling 6,101 shares during the period. Virtu Financial LLC’s holdings in Impinj were worth $287,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PI. State Street Corp boosted its position in Impinj by 25.7% during the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after buying an additional 220,776 shares during the period. Raymond James Financial Inc. bought a new position in shares of Impinj during the fourth quarter valued at $27,699,000. Principal Financial Group Inc. lifted its holdings in shares of Impinj by 4,013.7% during the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after purchasing an additional 122,579 shares during the period. Wellington Management Group LLP bought a new stake in shares of Impinj in the third quarter worth $24,771,000. Finally, Thrivent Financial for Lutherans increased its holdings in Impinj by 464.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 100,991 shares of the company’s stock valued at $14,670,000 after purchasing an additional 83,107 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have commented on PI. Needham & Company LLC cut their target price on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Susquehanna decreased their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Piper Sandler dropped their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group decreased their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Impinj currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.44.

Impinj Stock Performance

Impinj stock opened at $92.86 on Friday. The stock’s 50 day moving average price is $106.35 and its two-hundred day moving average price is $157.62. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 68.28 and a beta of 1.98. Impinj, Inc. has a 52-week low of $84.17 and a 52-week high of $239.88.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (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 forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Insider Activity

In other news, CFO Cary Baker sold 290 shares of Impinj stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $140.96, for a total transaction of $40,878.40. Following the completion of the transaction, the chief financial officer now directly owns 71,754 shares in the company, valued at $10,114,443.84. This trade represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 378 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $141.05, for a total transaction of $53,316.90. Following the completion of the sale, the executive now owns 67,052 shares in the company, valued at $9,457,684.60. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock worth $1,925,748 in the last three months. Company insiders own 51.00% of the company’s stock.

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.