Impinj, Inc. (NASDAQ:PI) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Impinj, Inc. (NASDAQ:PI) by 65.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 308 shares of the company’s stock after selling 591 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Impinj were worth $45,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC increased its position in shares of 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 acquiring an additional 60,461 shares during the last quarter. State Street Corp grew 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 purchasing an additional 220,776 shares in the last quarter. Geode Capital Management LLC grew its stake in Impinj by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after purchasing an additional 7,676 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Impinj by 10.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 213,398 shares of the company’s stock worth $30,998,000 after purchasing an additional 20,158 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Impinj in the 4th quarter valued at approximately $27,699,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PI. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a report on Thursday, February 27th. Susquehanna cut their target price on shares of 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 decreased their price target on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, Piper Sandler cut 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Impinj currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.44.

Insider Buying and Selling at Impinj

In related news, CEO Chris Ph.D. Diorio sold 8,334 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the transaction, the chief executive officer now directly owns 354,076 shares of the company’s stock, valued at $34,975,627.28. This represents a 2.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cathal G. Phelan sold 565 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the sale, the insider now owns 7,925 shares in the company, valued at approximately $782,752.25. This represents a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,704 shares of company stock worth $1,925,748. 51.00% of the stock is owned by insiders.

Impinj Stock Down 0.5 %

Shares of NASDAQ:PI opened at $91.15 on Thursday. The firm has a 50-day simple moving average of $107.15 and a 200 day simple moving average of $158.07. Impinj, Inc. has a fifty-two week low of $84.17 and a fifty-two week high of $239.88. The company has a market cap of $2.60 billion, a PE ratio of 67.02 and a beta of 1.98.

Impinj (NASDAQ:PI) last announced 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 return on equity of 7.11% and a net margin of 11.15%. As a group, research analysts forecast that Impinj, Inc. will post -0.47 EPS for the current fiscal 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.