Alberta Investment Management Corp Has $1.38 Million Stake in Impinj, Inc. (NASDAQ:PI)

Alberta Investment Management Corp lowered its position in shares of Impinj, Inc. (NASDAQ:PI) by 9.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,524 shares of the company’s stock after selling 947 shares during the quarter. Alberta Investment Management Corp’s holdings in Impinj were worth $1,383,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Creative Planning raised its stake in Impinj by 23.4% in the 3rd quarter. Creative Planning now owns 12,046 shares of the company’s stock worth $2,608,000 after purchasing an additional 2,287 shares in the last quarter. Raymond James & Associates raised its position in shares of Impinj by 21.7% in the third quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock valued at $4,969,000 after buying an additional 4,090 shares in the last quarter. Courier Capital LLC bought a new stake in shares of Impinj in the third quarter valued at approximately $217,000. Highland Capital Management LLC acquired a new stake in Impinj during the third quarter worth approximately $222,000. Finally, Louisiana State Employees Retirement System bought a new position in Impinj during the 3rd quarter worth $2,382,000.

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,504 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total transaction of $219,914.88. Following the sale, the chief executive officer now directly owns 331,572 shares of the company’s stock, valued at $48,482,457.84. The trade was a 0.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cathal G. Phelan sold 210 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $30,672.60. Following the transaction, the insider now directly owns 6,979 shares of the company’s stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,466 shares of company stock valued at $789,298 in the last 90 days. 51.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PI. Susquehanna cut their target price on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. The Goldman Sachs Group cut 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. Piper Sandler reduced their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald dropped their target price on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Needham & Company LLC cut their price target 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.10.

Impinj Trading Down 4.0 %

PI opened at $96.75 on Friday. The company has a market cap of $2.76 billion, a P/E ratio of 71.14 and a beta of 1.88. The company’s 50 day moving average is $133.21 and its 200-day moving average is $168.90. Impinj, Inc. has a 1-year low of $96.69 and a 1-year high of $239.88.

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