Westfield Capital Management Co. LP Lowers Position in Impinj, Inc. (NASDAQ:PI)

Westfield Capital Management Co. LP lessened its holdings in Impinj, Inc. (NASDAQ:PI) by 39.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 616,441 shares of the company’s stock after selling 405,918 shares during the period. Westfield Capital Management Co. LP owned approximately 2.28% of Impinj worth $55,498,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Impinj in the fourth quarter worth $40,000. Headlands Technologies LLC bought a new stake in Impinj in the fourth quarter worth $58,000. Whittier Trust Co. bought a new position in Impinj during the fourth quarter valued at $90,000. PNC Financial Services Group Inc. increased its position in Impinj by 41.2% during the third quarter. PNC Financial Services Group Inc. now owns 3,941 shares of the company’s stock valued at $217,000 after acquiring an additional 1,149 shares during the last quarter. Finally, Avitas Wealth Management LLC bought a new position in Impinj during the fourth quarter valued at $238,000.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PI shares. Canaccord Genuity Group boosted their price objective on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Roth Mkm boosted their price objective on shares of Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group started coverage on shares of Impinj in a research report on Monday, May 13th. They set a “buy” rating and a $200.00 price objective on the stock. Needham & Company LLC boosted their price objective on shares of Impinj from $160.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, Susquehanna boosted their price objective on shares of Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Impinj currently has an average rating of “Moderate Buy” and an average target price of $143.10.

Insider Buying and Selling

In related news, CEO Chris Ph.D. Diorio sold 26,661 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $147.02, for a total value of $3,919,700.22. Following the completion of the sale, the chief executive officer now directly owns 286,230 shares of the company’s stock, valued at $42,081,534.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Chris Ph.D. Diorio sold 26,661 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $147.02, for a total value of $3,919,700.22. Following the completion of the sale, the chief executive officer now directly owns 286,230 shares of the company’s stock, valued at $42,081,534.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 841 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.83, for a total transaction of $106,664.03. Following the completion of the sale, the insider now directly owns 25,801 shares of the company’s stock, valued at $3,272,340.83. The disclosure for this sale can be found here. Insiders sold a total of 88,509 shares of company stock valued at $12,503,735 over the last three months. 51.00% of the stock is owned by company insiders.

Impinj Trading Down 1.3 %

Shares of NASDAQ PI traded down $2.19 during mid-day trading on Friday, reaching $166.30. The company had a trading volume of 198,163 shares, compared to its average volume of 554,954. The business’s 50-day moving average is $141.11 and its 200-day moving average is $110.23. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of -475.14 and a beta of 1.85. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $175.41.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The company had revenue of $76.83 million during the quarter, compared to analyst estimates of $73.57 million. Equities analysts expect that Impinj, Inc. will post 0.02 earnings per share for the current 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.