Impinj, Inc. (NASDAQ:PI) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its position in shares of Impinj, Inc. (NASDAQ:PI) by 10.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 913,210 shares of the company’s stock after selling 111,135 shares during the period. Chevy Chase Trust Holdings LLC owned about 3.30% of Impinj worth $143,164,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Impinj by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock valued at $16,282,000 after acquiring an additional 6,810 shares during the period. K.J. Harrison & Partners Inc bought a new stake in Impinj in the fourth quarter valued at $1,458,000. Ghisallo Capital Management LLC acquired a new position in shares of Impinj during the fourth quarter valued at $4,192,000. Eagle Asset Management Inc. boosted its holdings in shares of Impinj by 19.6% during the fourth quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after acquiring an additional 33,504 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Impinj during the first quarter worth about $513,000.

Insider Buying and Selling at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $153.10, for a total value of $153,100,000.00. Following the transaction, the insider now directly owns 3,197,352 shares in the company, valued at $489,514,591.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $153.10, for a total value of $153,100,000.00. Following the completion of the sale, the insider now owns 3,197,352 shares of the company’s stock, valued at $489,514,591.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Cathal G. Phelan sold 212 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $147.52, for a total value of $31,274.24. Following the transaction, the insider now directly owns 16,669 shares in the company, valued at approximately $2,459,010.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,049,127 shares of company stock valued at $160,695,658. 51.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler boosted their price target on Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. The Goldman Sachs Group cut shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 target price on the stock. in a research note on Monday, May 20th. Cantor Fitzgerald restated an “overweight” rating and set a $205.00 price target on shares of Impinj in a research report on Thursday, July 25th. Jefferies Financial Group started coverage on shares of Impinj in a report on Monday, May 13th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.10.

Impinj Stock Performance

Shares of NASDAQ PI traded down $5.30 during mid-day trading on Tuesday, reaching $157.63. 257,395 shares of the company traded hands, compared to its average volume of 435,911. The company’s fifty day moving average is $156.87 and its two-hundred day moving average is $141.06. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $181.88. The stock has a market cap of $4.43 billion, a PE ratio of -450.37 and a beta of 1.78.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) earnings per share. Research analysts forecast that Impinj, Inc. will post 0.31 earnings per share for the current year.

Impinj 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.