Migdal Insurance & Financial Holdings Ltd. Cuts Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Migdal Insurance & Financial Holdings Ltd. trimmed its stake in shares of Impinj, Inc. (NASDAQ:PI) by 32.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 992 shares of the company’s stock after selling 476 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Impinj were worth $90,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its stake in Impinj by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 8,583 shares of the company’s stock valued at $937,000 after acquiring an additional 86 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Impinj by 2.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock worth $462,000 after buying an additional 115 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Impinj by 5.8% in the 3rd quarter. Royal Bank of Canada now owns 2,762 shares of the company’s stock worth $221,000 after buying an additional 151 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Impinj by 10.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,899 shares of the company’s stock worth $170,000 after buying an additional 182 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Impinj by 3.3% in the 3rd quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock worth $355,000 after buying an additional 205 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Evercore ISI assumed coverage on shares of Impinj in a research note on Tuesday. They issued an “outperform” rating and a $160.00 price objective for the company. StockNews.com upgraded shares of Impinj to a “sell” rating in a report on Friday, February 9th. Needham & Company LLC raised their target price on shares of Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Canaccord Genuity Group raised their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, Susquehanna raised their target price on shares of Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $119.44.

Insider Activity

In other news, CRO Jeffrey Dossett sold 4,858 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.11, for a total value of $491,192.38. Following the completion of the sale, the executive now owns 57,110 shares in the company, valued at approximately $5,774,392.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CRO Jeffrey Dossett sold 4,858 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.11, for a total value of $491,192.38. Following the completion of the sale, the executive now owns 57,110 shares in the company, valued at approximately $5,774,392.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Hussein Mecklai sold 30,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares of the company’s stock, valued at approximately $4,243,247.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,185 shares of company stock worth $12,767,674. 17.10% of the stock is currently owned by corporate insiders.

Impinj Stock Performance

Shares of PI opened at $122.08 on Friday. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $142.70. The company has a 50-day moving average of $116.17 and a 200 day moving average of $91.72. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The company had revenue of $70.65 million during the quarter, compared to analyst estimates of $67.10 million. As a group, research analysts anticipate that Impinj, Inc. will post -0.62 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.