Wellington Management Group LLP Invests $24.77 Million in Impinj, Inc. (NASDAQ:PI)

Wellington Management Group LLP purchased a new position in shares of Impinj, Inc. (NASDAQ:PI) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 114,407 shares of the company’s stock, valued at approximately $24,771,000.

Other large investors also recently made changes to their positions in the company. First Bank & Trust lifted its position in shares of Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after purchasing an additional 55 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares during the last quarter. KBC Group NV lifted its position in shares of Impinj by 29.7% during the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after purchasing an additional 156 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after purchasing an additional 190 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after purchasing an additional 248 shares during the last quarter.

Analysts Set New Price Targets

PI has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Cantor Fitzgerald upped their price target on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Susquehanna upped their price target on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. Finally, StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Impinj currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

Insider Transactions at Impinj

In related news, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the sale, the executive now directly owns 65,294 shares in the company, valued at $11,829,313.98. This represents a 10.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sylebra Capital Llc sold 32,031 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total value of $6,257,255.85. Following the sale, the insider now owns 3,021,548 shares in the company, valued at approximately $590,259,401.80. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 655,674 shares of company stock valued at $131,623,305. Corporate insiders own 51.00% of the company’s stock.

Impinj Trading Down 4.9 %

Shares of PI opened at $150.98 on Friday. Impinj, Inc. has a 1 year low of $78.17 and a 1 year high of $239.88. The stock has a 50 day simple moving average of $198.32 and a 200-day simple moving average of $177.86. The stock has a market cap of $4.27 billion, a PE ratio of 169.64 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same period in the prior year, the firm posted ($0.36) EPS. Impinj’s quarterly revenue was up 46.5% compared to the same quarter last year. On average, sell-side analysts forecast that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

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.