Chevy Chase Trust Holdings LLC Has $112.40 Million Position in Impinj, Inc. (NASDAQ:PI)

Chevy Chase Trust Holdings LLC reduced its stake in Impinj, Inc. (NASDAQ:PIGet Rating) by 4.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,404,521 shares of the company’s stock after selling 71,429 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Impinj worth $112,404,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PI. SG Americas Securities LLC bought a new position in Impinj in the 2nd quarter worth approximately $2,621,000. Waterfront Wealth Inc. increased its position in shares of Impinj by 8.2% during the second quarter. Waterfront Wealth Inc. now owns 9,936 shares of the company’s stock valued at $583,000 after purchasing an additional 757 shares during the period. HighTower Trust Services LTA bought a new stake in shares of Impinj during the second quarter valued at approximately $3,688,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Impinj by 0.5% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,691 shares of the company’s stock valued at $3,443,000 after purchasing an additional 286 shares during the period. Finally, Essex Investment Management Co. LLC increased its position in shares of Impinj by 3.5% during the second quarter. Essex Investment Management Co. LLC now owns 44,058 shares of the company’s stock valued at $2,585,000 after purchasing an additional 1,491 shares during the period. 97.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PI shares. Piper Sandler boosted their price objective on Impinj from $100.00 to $120.00 in a research report on Thursday, October 27th. Jefferies Financial Group boosted their price objective on Impinj from $112.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, January 12th. Lake Street Capital upped their price target on Impinj from $109.00 to $132.00 in a research report on Wednesday, January 11th. The Goldman Sachs Group upped their price target on Impinj from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, December 5th. Finally, Needham & Company LLC upped their price target on Impinj from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, January 12th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Impinj currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.29.

Impinj Trading Down 0.7 %

Impinj stock opened at $127.73 on Wednesday. The company has a debt-to-equity ratio of 135.78, a current ratio of 7.73 and a quick ratio of 6.78. The business’s fifty day moving average is $117.00 and its two-hundred day moving average is $98.74. Impinj, Inc. has a 52 week low of $39.74 and a 52 week high of $137.54.

Impinj (NASDAQ:PIGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.17. The company had revenue of $68.27 million for the quarter, compared to analyst estimates of $64.67 million. Impinj had a negative return on equity of 236.49% and a negative net margin of 18.91%. On average, equities analysts forecast that Impinj, Inc. will post -0.66 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Sylebra Capital Ltd sold 64,911 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $116.33, for a total transaction of $7,551,096.63. Following the transaction, the insider now owns 3,332,426 shares of the company’s stock, valued at $387,661,116.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CRO Jeffrey Dossett sold 2,000 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $127.55, for a total value of $255,100.00. Following the completion of the sale, the executive now owns 41,792 shares in the company, valued at $5,330,569.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sylebra Capital Ltd sold 64,911 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $116.33, for a total value of $7,551,096.63. Following the completion of the sale, the insider now owns 3,332,426 shares of the company’s stock, valued at approximately $387,661,116.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 500,321 shares of company stock valued at $58,665,552. 20.20% of the stock is currently owned by corporate insiders.

About Impinj

(Get Rating)

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

Recommended Stories

Want to see what other hedge funds are holding PI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Impinj, Inc. (NASDAQ:PIGet Rating).

Institutional Ownership by Quarter for Impinj (NASDAQ:PI)

Receive News & Ratings for Impinj Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impinj and related companies with MarketBeat.com's FREE daily email newsletter.