Cathal G. Phelan Sells 210 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the completion of the transaction, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. The trade was a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Impinj Stock Performance

Shares of NASDAQ:PI opened at $147.85 on Friday. The firm has a market cap of $4.18 billion, a PE ratio of 166.12 and a beta of 1.80. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88. The firm’s fifty day moving average is $180.59 and its 200-day moving average is $177.03.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business’s revenue was up 46.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.36) EPS. Sell-side analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Institutional Trading of Impinj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new position in shares of Impinj in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC raised its stake in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after buying an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Impinj in the third quarter valued at $54,000. SouthState Corp acquired a new position in Impinj in the second quarter valued at $94,000. Finally, nVerses Capital LLC boosted its position in Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after acquiring an additional 300 shares during the last quarter.

Analysts Set New Price Targets

PI has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Susquehanna lifted their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Evercore ISI restated an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Lake Street Capital upped their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Impinj presently has an average rating of “Moderate Buy” and an average target price of $224.60.

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.