Los Angeles Capital Management LLC Has $2.34 Million Holdings in Impinj, Inc. (NASDAQ:PI)

Los Angeles Capital Management LLC increased its position in shares of Impinj, Inc. (NASDAQ:PI) by 88.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,106 shares of the company’s stock after buying an additional 7,537 shares during the period. Los Angeles Capital Management LLC owned 0.06% of Impinj worth $2,340,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB bought a new stake in Impinj in the fourth quarter valued at approximately $3,341,000. Thrivent Financial for Lutherans bought a new stake in Impinj in the 3rd quarter valued at $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Impinj during the 3rd quarter valued at $846,000. Intech Investment Management LLC acquired a new stake in Impinj during the 3rd quarter valued at $1,437,000. Finally, Principal Financial Group Inc. boosted its position in 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.

Insider Transactions at Impinj

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the sale, the chief executive officer now directly owns 354,076 shares in the company, valued at approximately $34,975,627.28. This trade represents a 2.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Cary Baker sold 499 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $72,883.94. Following the sale, the chief financial officer now directly owns 71,107 shares in the company, valued at $10,385,888.42. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,323 shares of company stock valued at $2,454,588. Company insiders own 51.00% of the company’s stock.

Impinj Price Performance

Shares of NASDAQ PI opened at $91.41 on Friday. The business has a fifty day moving average price of $127.98 and a two-hundred day moving average price of $167.21. The stock has a market capitalization of $2.61 billion, a PE ratio of 67.21 and a beta of 1.88. Impinj, Inc. has a fifty-two week low of $91.41 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. On average, equities analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Wall Street Analyst Weigh In

PI has been the subject of a number of research reports. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Piper Sandler cut their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC decreased their target price on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald lowered their target price on Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Susquehanna reduced their price target on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $180.10.

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.