Impinj, Inc. (NASDAQ:PI) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its position in Impinj, Inc. (NASDAQ:PI) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 814,543 shares of the company’s stock after selling 43,800 shares during the quarter. Chevy Chase Trust Holdings LLC owned 2.88% of Impinj worth $118,321,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in Impinj by 25.7% during the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after acquiring an additional 220,776 shares in the last quarter. Principal Financial Group Inc. raised its stake in Impinj by 4,013.7% during the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after acquiring an additional 122,579 shares in the last quarter. Wellington Management Group LLP bought a new stake in Impinj during the 3rd quarter valued at $24,771,000. FMR LLC raised its stake in Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after acquiring an additional 60,461 shares in the last quarter. Finally, Telemark Asset Management LLC bought a new stake in Impinj during the 3rd quarter valued at $12,991,000.

Insider Activity

In related news, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the sale, the insider now owns 6,979 shares of the company’s stock, valued at approximately $1,019,352.74. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,504 shares of Impinj stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total value of $219,914.88. Following the sale, the chief executive officer now directly owns 331,572 shares of the company’s stock, valued at approximately $48,482,457.84. The trade was a 0.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,466 shares of company stock worth $789,298. 51.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on PI. Susquehanna dropped their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Needham & Company LLC dropped their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Lake Street Capital boosted their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Piper Sandler dropped their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $180.10.

Impinj Trading Down 0.9 %

Shares of PI stock opened at $103.54 on Friday. Impinj, Inc. has a 1-year low of $97.77 and a 1-year high of $239.88. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 76.13 and a beta of 1.88. The stock’s fifty day simple moving average is $140.29 and its 200-day simple moving average is $171.07.

Impinj (NASDAQ:PI) last issued its quarterly 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 7.69%. On average, sell-side analysts predict that Impinj, Inc. will post 1.05 EPS for the current year.

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.