Truist Financial Corp Boosts Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Truist Financial Corp raised its holdings in shares of Impinj, Inc. (NASDAQ:PI) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,732 shares of the company’s stock after acquiring an additional 205 shares during the period. Truist Financial Corp’s holdings in Impinj were worth $397,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI purchased a new stake in Impinj during the third quarter valued at about $30,000. Farther Finance Advisors LLC boosted its position in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares during the period. Spire Wealth Management purchased a new stake in Impinj during the fourth quarter valued at about $87,000. KBC Group NV boosted its position in Impinj by 33.5% during the fourth quarter. KBC Group NV now owns 909 shares of the company’s stock valued at $132,000 after buying an additional 228 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new stake in Impinj during the third quarter valued at about $138,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PI shares. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. The Goldman Sachs Group dropped their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Susquehanna dropped their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Piper Sandler dropped their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and an average target price of $180.10.

Impinj Price Performance

PI stock opened at $90.20 on Wednesday. Impinj, Inc. has a 1 year low of $84.17 and a 1 year high of $239.88. The company has a market cap of $2.57 billion, a P/E ratio of 66.32 and a beta of 1.88. The firm has a 50-day moving average of $124.58 and a 200 day moving average of $165.97.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, equities research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 8,334 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the transaction, the chief executive officer now owns 354,076 shares of the company’s stock, valued at approximately $34,975,627.28. This trade represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cary Baker sold 1,553 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the transaction, the chief financial officer now directly owns 76,451 shares of the company’s stock, valued at $7,550,300.76. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,323 shares of company stock valued at $2,454,588. Corporate insiders own 51.00% of the company’s stock.

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.