Insider Selling: Impinj, Inc. (NASDAQ:PI) Insider Sells $43,712.35 in Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 209 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the transaction, the insider now owns 17,647 shares in the company, valued at $3,690,870.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Impinj Price Performance

Shares of Impinj stock opened at $213.31 on Friday. Impinj, Inc. has a 1 year low of $48.39 and a 1 year high of $220.17. The firm has a market cap of $5.91 billion, a PE ratio of -609.46 and a beta of 1.78. The stock has a fifty day moving average price of $168.51 and a 200-day moving average price of $154.71.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. During the same period last year, the firm posted ($0.14) EPS. The business’s revenue was up 19.2% compared to the same quarter last year. As a group, equities analysts anticipate that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Impinj

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after acquiring an additional 35,893 shares during the last quarter. Capital International Investors purchased a new stake in Impinj in the 4th quarter worth about $68,211,000. Assenagon Asset Management S.A. purchased a new stake in Impinj in the 2nd quarter worth about $103,252,000. Janus Henderson Group PLC increased its holdings in Impinj by 0.6% in the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock worth $56,376,000 after acquiring an additional 2,681 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in Impinj by 19.6% in the 4th quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock worth $18,435,000 after acquiring an additional 33,504 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Roth Mkm increased their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Impinj in a report on Thursday, July 25th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Piper Sandler reiterated an “overweight” rating and issued a $225.00 target price (up from $180.00) on shares of Impinj in a report on Friday. Finally, Evercore ISI increased their target price on Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Impinj has an average rating of “Moderate Buy” and an average price target of $191.60.

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.