Avitas Wealth Management LLC Sells 175 Shares of Impinj, Inc. (NASDAQ:PI)

Avitas Wealth Management LLC trimmed its position in Impinj, Inc. (NASDAQ:PI) by 7.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,298 shares of the company’s stock after selling 175 shares during the period. Avitas Wealth Management LLC’s holdings in Impinj were worth $498,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PI. Principal Financial Group Inc. boosted its position in Impinj by 16.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock valued at $403,000 after buying an additional 454 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Impinj by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after buying an additional 7,247 shares during the last quarter. Jennison Associates LLC bought a new position in Impinj in the 1st quarter valued at $25,747,000. SG Americas Securities LLC bought a new position in shares of Impinj in the 1st quarter worth $513,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Impinj in the 1st quarter worth $19,195,000.

Insider Activity at Impinj

In related news, CFO Cary Baker sold 15,000 shares of Impinj stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $204.90, for a total transaction of $3,073,500.00. Following the completion of the transaction, the chief financial officer now owns 71,096 shares in the company, valued at approximately $14,567,570.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Cary Baker sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $204.90, for a total value of $3,073,500.00. Following the sale, the chief financial officer now owns 71,096 shares of the company’s stock, valued at approximately $14,567,570.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,779 shares of company stock valued at $6,578,896. 51.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. The Goldman Sachs Group raised their price target on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Cantor Fitzgerald lifted their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Lake Street Capital lifted their target price on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Impinj Stock Performance

NASDAQ:PI opened at $191.72 on Thursday. The stock’s 50-day simple moving average is $198.64 and its 200 day simple moving average is $170.87. The company has a market cap of $5.31 billion, a P/E ratio of -547.77 and a beta of 1.80. Impinj, Inc. has a 52-week low of $59.64 and a 52-week high of $239.88.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. Impinj’s quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.36) earnings per share. As a group, equities analysts predict that Impinj, Inc. will post 0.35 earnings per share for the current fiscal year.

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.