Nuveen Asset Management LLC Raises Stock Position in Impinj, Inc. (NASDAQ:PI)

Posted by Defense World Staff on Mar 4th, 2023

Nuveen Asset Management LLC increased its stake in Impinj, Inc. (NASDAQ:PI – Get Rating) by 78.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 248,485 shares of the company’s stock after purchasing an additional 109,306 shares during the quarter. Nuveen Asset Management LLC owned 0.96% of Impinj worth $19,886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PI. Raymond James & Associates boosted its holdings in Impinj by 3.3% in the first quarter. Raymond James & Associates now owns 17,095 shares of the company’s stock worth $1,086,000 after purchasing an additional 540 shares during the last quarter. HighTower Advisors LLC raised its position in Impinj by 21.7% in the first quarter. HighTower Advisors LLC now owns 7,326 shares of the company’s stock worth $466,000 after acquiring an additional 1,305 shares during the period. MetLife Investment Management LLC raised its position in Impinj by 55.2% in the first quarter. MetLife Investment Management LLC now owns 10,123 shares of the company’s stock worth $643,000 after acquiring an additional 3,601 shares during the period. Rhumbline Advisers raised its position in Impinj by 2.7% in the first quarter. Rhumbline Advisers now owns 19,620 shares of the company’s stock worth $1,247,000 after acquiring an additional 516 shares during the period. Finally, BlackRock Inc. raised its position in Impinj by 1.5% in the first quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock worth $89,758,000 after acquiring an additional 20,404 shares during the period. Hedge funds and other institutional investors own 97.32% of the company’s stock.

Insider Activity at Impinj

In related news, CRO Jeffrey Dossett sold 598 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $133.13, for a total transaction of $79,611.74. Following the completion of the transaction, the executive now directly owns 47,139 shares of the company’s stock, valued at $6,275,615.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Impinj news, CEO Chris Ph.D. Diorio sold 612 shares of Impinj stock in a transaction on Friday, December 16th. The shares were sold at an average price of $109.79, for a total value of $67,191.48. Following the completion of the transaction, the chief executive officer now directly owns 283,591 shares of the company’s stock, valued at approximately $31,135,455.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Jeffrey Dossett sold 598 shares of Impinj stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $133.13, for a total transaction of $79,611.74. Following the completion of the transaction, the executive now directly owns 47,139 shares of the company’s stock, valued at $6,275,615.07. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 88,397 shares of company stock valued at $10,952,581 and sold 65,516 shares valued at $8,172,645. 20.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PI shares. TheStreet upgraded shares of Impinj from a “d” rating to a “c-” rating in a research report on Wednesday, February 8th. Piper Sandler increased their price target on shares of Impinj from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, January 27th. Canaccord Genuity Group increased their price target on shares of Impinj from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Lake Street Capital raised their price objective on shares of Impinj from $132.00 to $135.00 in a research report on Thursday, February 9th. Finally, The Goldman Sachs Group raised their price objective on shares of Impinj from $111.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, February 10th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat, Impinj presently has an average rating of “Moderate Buy” and a consensus target price of $129.75.

Impinj Stock Performance

PI opened at $139.12 on Friday. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of -144.92, a PEG ratio of 40.64 and a beta of 2.25. The company has a fifty day moving average of $123.55 and a 200 day moving average of $107.93. Impinj, Inc. has a fifty-two week low of $39.74 and a fifty-two week high of $142.78. The company has a debt-to-equity ratio of 17.97, a quick ratio of 5.40 and a current ratio of 6.49.

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.