Kennedy Capital Management LLC Decreases Stock Position in Impinj, Inc. (NASDAQ:PI)

Kennedy Capital Management LLC decreased its position in shares of Impinj, Inc. (NASDAQ:PI) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 27,298 shares of the company’s stock after selling 373 shares during the quarter. Kennedy Capital Management LLC’s holdings in Impinj were worth $3,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new stake in Impinj in the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Impinj in the fourth quarter valued at $33,000. Jones Financial Companies Lllp grew its stake in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after acquiring an additional 175 shares in the last quarter. IFP Advisors Inc grew its holdings in Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after acquiring an additional 198 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of Impinj during the 4th quarter worth about $87,000.

Insider Activity

In other Impinj news, COO Hussein Mecklai sold 338 shares of Impinj stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $141.02, for a total value of $47,664.76. Following the completion of the sale, the chief operating officer now directly owns 61,586 shares in the company, valued at $8,684,857.72. The trade was a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cary Baker sold 290 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $140.96, for a total value of $40,878.40. Following the sale, the chief financial officer now directly owns 71,754 shares of the company’s stock, valued at $10,114,443.84. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock worth $1,925,748 over the last 90 days. 51.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PI shares. Cantor Fitzgerald raised Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. Needham & Company LLC dropped their price target on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group cut their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Susquehanna decreased their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Finally, StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. One equities research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.44.

Impinj Stock Up 1.3 %

Shares of Impinj stock opened at $66.77 on Friday. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88. The business has a 50-day moving average price of $91.86 and a 200 day moving average price of $147.08. The firm has a market cap of $1.91 billion, a P/E ratio of 49.10 and a beta of 1.74.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share 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.