Impinj, Inc. (NASDAQ:PI) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP decreased its position in Impinj, Inc. (NASDAQ:PI) by 39.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 375,646 shares of the company’s stock after selling 240,795 shares during the quarter. Westfield Capital Management Co. LP owned 1.36% of Impinj worth $48,237,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in Impinj during the 1st quarter valued at approximately $32,000. GAMMA Investing LLC acquired a new position in Impinj during the 4th quarter valued at approximately $40,000. Headlands Technologies LLC acquired a new position in Impinj during the 4th quarter valued at approximately $58,000. Whittier Trust Co. acquired a new position in Impinj during the 4th quarter valued at approximately $90,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after purchasing an additional 521 shares during the period.

Impinj Price Performance

Shares of Impinj stock traded down $3.47 on Friday, reaching $171.42. 300,748 shares of the company were exchanged, compared to its average volume of 279,185. The stock has a fifty day moving average price of $161.30 and a 200-day moving average price of $131.46. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $180.00.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The company had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Sell-side analysts expect that Impinj, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Impinj

In other news, Director Umesh Padval sold 3,475 shares of Impinj stock in a transaction on Friday, April 26th. The stock was sold at an average price of $151.39, for a total transaction of $526,080.25. Following the transaction, the director now owns 3,529 shares in the company, valued at $534,255.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of Impinj stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $153.10, for a total transaction of $153,100,000.00. Following the transaction, the insider now owns 3,197,352 shares in the company, valued at $489,514,591.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Umesh Padval sold 3,475 shares of Impinj stock in a transaction on Friday, April 26th. The shares were sold at an average price of $151.39, for a total value of $526,080.25. Following the transaction, the director now owns 3,529 shares in the company, valued at approximately $534,255.31. The disclosure for this sale can be found here. Insiders have sold 1,097,971 shares of company stock valued at $167,900,777 over the last three months. Company insiders own 51.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PI shares. Cantor Fitzgerald started coverage on Impinj in a research note on Thursday. They set an “overweight” rating and a $205.00 target price on the stock. The Goldman Sachs Group downgraded 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. Jefferies Financial Group started coverage on Impinj in a research note on Monday, May 13th. They set a “buy” rating and a $200.00 target price on the stock. Susquehanna lifted their target price on Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research note on Wednesday. Finally, Evercore ISI began coverage on Impinj in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Impinj has an average rating of “Moderate Buy” and a consensus price target of $169.60.

About Impinj

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.