Man Group plc Sells 22,321 Shares of Impinj, Inc. (NASDAQ:PI)

Man Group plc reduced its stake in Impinj, Inc. (NASDAQ:PI) by 37.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,755 shares of the company’s stock after selling 22,321 shares during the period. Man Group plc owned approximately 0.13% of Impinj worth $5,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new stake in shares of Impinj during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Impinj during the 4th quarter worth approximately $33,000. Jones Financial Companies Lllp boosted its position in shares of Impinj by 205.9% during the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after acquiring an additional 175 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after acquiring an additional 198 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of Impinj during the 4th quarter worth approximately $87,000.

Wall Street Analyst Weigh In

PI has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Piper Sandler cut their target price on shares of Impinj from $140.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI raised their target price on shares of Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Susquehanna cut their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $133.00 target price on shares of Impinj in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $155.38.

Impinj Price Performance

Shares of PI stock opened at $123.33 on Wednesday. The company’s fifty day simple moving average is $89.03 and its two-hundred day simple moving average is $124.17. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 90.68 and a beta of 1.64.

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

Insider Buying and Selling

In related news, COO Hussein Mecklai sold 3,739 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $369,450.59. Following the completion of the transaction, the chief operating officer now directly owns 70,347 shares in the company, valued at approximately $6,950,987.07. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Cary Baker sold 1,553 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.76, for a total transaction of $153,374.28. Following the completion of the sale, the chief financial officer now directly owns 76,451 shares of the company’s stock, valued at $7,550,300.76. This represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,857 shares of company stock worth $1,665,290. Corporate insiders own 12.40% of the company’s stock.

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.