Impinj, Inc. (NASDAQ:PI) CFO Cary Baker Sells 366 Shares

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 366 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78. Following the transaction, the chief financial officer now directly owns 71,096 shares in the company, valued at approximately $16,908,761.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cary Baker also recently made the following trade(s):

• On Tuesday, September 24th, Cary Baker sold 496 shares of Impinj stock. The stock was sold at an average price of $209.17, for a total transaction of $103,748.32.

Impinj Stock Down 2.2 %

Impinj stock opened at $233.25 on Wednesday. The company’s 50 day moving average is $185.88 and its two-hundred day moving average is $164.23. The firm has a market cap of $6.46 billion, a PE ratio of -666.43 and a beta of 1.80. Impinj, Inc. has a 52-week low of $48.39 and a 52-week high of $239.88.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business posted ($0.14) earnings per share. Impinj’s revenue was up 19.2% compared to the same quarter last year. On average, equities research analysts anticipate that Impinj, Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $205.00 price target on shares of Impinj in a report on Thursday, July 25th. Evercore ISI increased their target price on shares of Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Piper Sandler restated an “overweight” rating and issued a $225.00 price objective (up from $180.00) on shares of Impinj in a report on Friday, September 27th. Finally, Lake Street Capital lifted their target price on shares of Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.60.

Hedge Funds Weigh In On Impinj

Institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning raised its holdings in shares of Impinj by 23.4% in the 3rd quarter. Creative Planning now owns 12,046 shares of the company’s stock valued at $2,608,000 after purchasing an additional 2,287 shares in the last quarter. USA Financial Formulas increased its holdings in Impinj by 82.0% in the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock valued at $142,000 after buying an additional 296 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Impinj in the third quarter valued at $54,000. Azzad Asset Management Inc. ADV lifted its holdings in Impinj by 179.6% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 4,912 shares of the company’s stock worth $1,064,000 after buying an additional 3,155 shares during the last quarter. Finally, Quent Capital LLC lifted its holdings in Impinj by 21.4% during the 3rd quarter. Quent Capital LLC now owns 11,350 shares of the company’s stock worth $2,458,000 after buying an additional 2,000 shares during the last quarter.

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.