Waterfront Wealth Inc. Has $935,000 Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Waterfront Wealth Inc. decreased its position in Impinj, Inc. (NASDAQ:PI) by 11.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,390 shares of the company’s stock after selling 1,403 shares during the quarter. Waterfront Wealth Inc.’s holdings in Impinj were worth $935,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Impinj by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock worth $9,577,000 after purchasing an additional 8,038 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Impinj during the third quarter valued at approximately $320,000. FMR LLC increased its holdings in shares of Impinj by 0.8% in the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after purchasing an additional 31,289 shares in the last quarter. AWM Investment Company Inc. raised its position in Impinj by 9.5% in the 3rd quarter. AWM Investment Company Inc. now owns 365,428 shares of the company’s stock worth $20,110,000 after purchasing an additional 31,556 shares during the last quarter. Finally, Toronado Partners LLC lifted its holdings in Impinj by 8.8% during the 3rd quarter. Toronado Partners LLC now owns 355,825 shares of the company’s stock worth $19,581,000 after buying an additional 28,700 shares in the last quarter.

Insider Activity

In related news, CEO Chris Ph.D. Diorio sold 16,060 shares of Impinj stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.16, for a total transaction of $1,624,629.60. Following the completion of the sale, the chief executive officer now owns 278,863 shares of the company’s stock, valued at approximately $28,209,781.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Chris Ph.D. Diorio sold 16,060 shares of Impinj stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.16, for a total value of $1,624,629.60. Following the completion of the sale, the chief executive officer now directly owns 278,863 shares in the company, valued at $28,209,781.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Cary Baker sold 306 shares of the business’s 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 completion of the sale, the chief financial officer now owns 65,748 shares of the company’s stock, valued at $8,123,165.40. The disclosure for this sale can be found here. Insiders have sold 120,185 shares of company stock valued at $12,767,674 over the last ninety days. 17.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PI has been the subject of several research reports. Evercore ISI initiated coverage on Impinj in a research note on Tuesday. They issued an “outperform” rating and a $160.00 target price for the company. The Goldman Sachs Group upped their target price on shares of Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Impinj to a “sell” rating in a research report on Friday, February 9th. Canaccord Genuity Group upped their target price on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Roth Mkm raised their price target on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Impinj has a consensus rating of “Moderate Buy” and an average price target of $119.44.

Impinj Price Performance

Shares of Impinj stock traded down $0.68 during trading on Thursday, hitting $119.41. 42,483 shares of the stock were exchanged, compared to its average volume of 364,531. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $142.70. The company has a fifty day moving average price of $115.86 and a 200-day moving average price of $91.51. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26.

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

Impinj Company 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.