Nuveen Asset Management LLC Grows Holdings in Impinj, Inc. (NASDAQ:PI)

Nuveen Asset Management LLC boosted its holdings in Impinj, Inc. (NASDAQ:PI) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,222 shares of the company’s stock after purchasing an additional 22,834 shares during the quarter. Nuveen Asset Management LLC owned about 0.58% of Impinj worth $23,855,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PI. Vanguard Group Inc. raised its position in Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock worth $500,009,000 after buying an additional 104,861 shares during the last quarter. Capital International Investors raised its position in Impinj by 45.0% during the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock worth $221,897,000 after buying an additional 473,721 shares during the last quarter. Geode Capital Management LLC raised its position in Impinj by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 546,823 shares of the company’s stock worth $79,654,000 after buying an additional 3,899 shares during the last quarter. Janus Henderson Group PLC raised its position in Impinj by 3,824.4% during the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company’s stock worth $63,310,000 after buying an additional 424,851 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Impinj by 3.4% during the 4th quarter. Ameriprise Financial Inc. now owns 407,391 shares of the company’s stock worth $59,178,000 after buying an additional 13,264 shares during the last quarter.

Impinj Price Performance

NASDAQ PI opened at $115.21 on Friday. Impinj, Inc. has a 1-year low of $60.85 and a 1-year high of $239.88. The company has a market capitalization of $3.34 billion, a P/E ratio of 84.71 and a beta of 1.64. The business has a 50 day moving average price of $90.02 and a 200 day moving average price of $123.59.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.12. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm had revenue of $74.28 million during the quarter, compared to the consensus estimate of $71.73 million. During the same period last year, the business posted $0.21 EPS. Impinj’s quarterly revenue was down 3.3% on a year-over-year basis. On average, research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Needham & Company LLC cut their target price on Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Piper Sandler cut their target price on Impinj from $140.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $133.00 target price on shares of Impinj in a research note on Thursday, April 24th. The Goldman Sachs Group cut their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Finally, Wall Street Zen downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $155.38.

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.