Meridian Wealth Management LLC Purchases New Stake in Impinj, Inc. (NASDAQ:PI)

Meridian Wealth Management LLC purchased a new stake in shares of Impinj, Inc. (NASDAQ:PI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $291,000.

Several other institutional investors also recently added to or reduced their stakes in PI. State Street Corp boosted its position in Impinj by 25.7% during the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after purchasing an additional 220,776 shares during the period. 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. Wellington Management Group LLP bought a new position in Impinj during the third quarter worth about $24,771,000. TimesSquare Capital Management LLC boosted its position in Impinj by 92.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock worth $20,454,000 after purchasing an additional 67,510 shares during the period. Finally, FMR LLC boosted its position in Impinj by 1.5% during the third quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after purchasing an additional 60,461 shares during the period.

Insider Activity at Impinj

In other Impinj news, insider Cathal G. Phelan sold 210 shares of the 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 $30,672.60. Following the transaction, the insider now directly owns 6,979 shares in the company, valued at $1,019,352.74. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Jeffrey Dossett sold 580 shares of the 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 $84,714.80. Following the transaction, the executive now owns 66,180 shares in the company, valued at $9,666,250.80. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,323 shares of company stock valued at $2,454,588 over the last three months. 51.00% of the stock is owned by corporate insiders.

Impinj Price Performance

Shares of PI opened at $94.82 on Thursday. The firm’s 50 day simple moving average is $123.50 and its 200 day simple moving average is $165.47. The company has a market capitalization of $2.71 billion, a P/E ratio of 69.72 and a beta of 1.88. Impinj, Inc. has a 1-year low of $84.17 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last announced 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 anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Needham & Company LLC cut their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Piper Sandler lowered their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. The Goldman Sachs Group lowered their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Finally, Susquehanna lowered their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.10.

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.