SFE Investment Counsel Has $614,000 Stock Position in Impinj, Inc. (NASDAQ:PI)

SFE Investment Counsel lessened its stake in Impinj, Inc. (NASDAQ:PI) by 40.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,227 shares of the company’s stock after selling 2,913 shares during the quarter. SFE Investment Counsel’s holdings in Impinj were worth $614,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PI. National Bank of Canada FI bought a new position in shares of Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC lifted its position in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. Spire Wealth Management acquired a new position in Impinj during the fourth quarter worth $87,000. Asset Management One Co. Ltd. acquired a new stake in Impinj in the 3rd quarter valued at $138,000. Finally, KBC Group NV lifted its position in Impinj by 29.7% during the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after buying an additional 156 shares in the last quarter.

Insider Buying and Selling

In other news, COO Hussein Mecklai sold 338 shares of the firm’s 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 sale, the chief operating officer now directly owns 61,586 shares in the company, valued at approximately $8,684,857.72. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $30,672.60. Following the completion of the transaction, the insider now directly owns 6,979 shares of the company’s stock, valued at approximately $1,019,352.74. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,466 shares of company stock worth $789,298. Company insiders own 51.00% of the company’s stock.

Impinj Stock Down 1.7 %

Shares of NASDAQ:PI opened at $104.51 on Thursday. Impinj, Inc. has a 12-month low of $97.77 and a 12-month high of $239.88. The company’s 50 day moving average price is $141.99 and its two-hundred day moving average price is $171.54. The firm has a market cap of $2.96 billion, a PE ratio of 76.85 and a beta of 1.88.

Impinj (NASDAQ:PI) last issued 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 7.69% and a net margin of 11.15%. On average, research analysts expect that Impinj, Inc. will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PI. The Goldman Sachs Group decreased their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Susquehanna cut their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Lake Street Capital increased their price target on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI reissued 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, Cantor Fitzgerald cut their target price on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.10.

Impinj Company 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.