Impinj, Inc. (NASDAQ:PI) Stock Position Lessened by Taylor Frigon Capital Management LLC

Posted by Tyrone Williams on Mar 19th, 2023

Taylor Frigon Capital Management LLC cut its position in Impinj, Inc. (NASDAQ:PI – Get Rating) by 55.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,931 shares of the company’s stock after selling 49,433 shares during the quarter. Impinj makes up 2.4% of Taylor Frigon Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Taylor Frigon Capital Management LLC owned about 0.15% of Impinj worth $4,250,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Strs Ohio acquired a new stake in Impinj during the 4th quarter worth approximately $32,000. Advisors Asset Management Inc. acquired a new stake in Impinj during the 1st quarter worth approximately $39,000. Vectors Research Management LLC acquired a new stake in Impinj during the 2nd quarter worth approximately $59,000. Great West Life Assurance Co. Can lifted its position in Impinj by 31.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 1,104 shares of the company’s stock worth $88,000 after acquiring an additional 266 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Impinj during the 1st quarter worth approximately $101,000. 97.32% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Chris Ph.D. Diorio sold 597 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $129.81, for a total transaction of $77,496.57. Following the sale, the chief executive officer now owns 282,275 shares in the company, valued at $36,642,117.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Chris Ph.D. Diorio sold 597 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $129.81, for a total transaction of $77,496.57. Following the sale, the chief executive officer now owns 282,275 shares in the company, valued at $36,642,117.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cary Baker sold 404 shares of the firm’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $120.57, for a total value of $48,710.28. Following the sale, the chief financial officer now owns 36,567 shares in the company, valued at approximately $4,408,883.19. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 88,397 shares of company stock valued at $10,952,581 and sold 64,269 shares valued at $8,053,633. 20.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Lake Street Capital raised their price target on Impinj from $132.00 to $135.00 in a report on Thursday, February 9th. TheStreet raised Impinj from a “d” rating to a “c-” rating in a report on Wednesday, February 8th. Jefferies Financial Group raised their price target on Impinj from $112.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, January 12th. Canaccord Genuity Group raised their price target on Impinj from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, February 9th. Finally, The Goldman Sachs Group raised their price target on Impinj from $111.00 to $142.00 and gave the company a “buy” rating in a report on Friday, February 10th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj has a consensus rating of “Moderate Buy” and an average price target of $129.75.

Impinj Price Performance

Impinj stock traded down $2.69 during mid-day trading on Friday, hitting $126.13. 515,760 shares of the company were exchanged, compared to its average volume of 418,646. The company has a debt-to-equity ratio of 17.97, a quick ratio of 5.40 and a current ratio of 6.49. The business’s 50 day simple moving average is $127.96 and its two-hundred day simple moving average is $110.59. Impinj, Inc. has a 12-month low of $39.74 and a 12-month high of $144.90.

Impinj (NASDAQ:PI – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $76.59 million during the quarter, compared to the consensus estimate of $76.20 million. Impinj had a negative return on equity of 62,026.59% and a negative net margin of 9.43%. As a group, equities research analysts anticipate that Impinj, Inc. will post 0.13 EPS for the current year.

About Impinj

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IImpinj, Inc engages in the development and sale of radio frequency identification solutions. The company was founded by Christopher Diorio in April 2000 and is headquartered in Seattle, WA.