Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells 290 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 290 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $140.96, for a total value of $40,878.40. Following the completion of the transaction, the chief financial officer now directly owns 71,754 shares in the company, valued at approximately $10,114,443.84. This trade represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, December 24th, Cary Baker sold 499 shares of Impinj stock. The stock was sold at an average price of $146.06, for a total transaction of $72,883.94.
• On Monday, October 28th, Cary Baker sold 15,000 shares of Impinj stock. The shares were sold at an average price of $204.90, for a total transaction of $3,073,500.00.

Impinj Stock Performance

NASDAQ:PI traded up $2.99 on Tuesday, hitting $149.31. The stock had a trading volume of 473,899 shares, compared to its average volume of 410,137. Impinj, Inc. has a 1 year low of $78.17 and a 1 year high of $239.88. The firm’s fifty day simple moving average is $168.32 and its two-hundred day simple moving average is $177.04. The stock has a market cap of $4.22 billion, a P/E ratio of 167.76 and a beta of 1.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The business 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%. Impinj’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same period last year, the company posted ($0.36) earnings per share. Equities research analysts predict that Impinj, Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Susquehanna upped their price target on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Lake Street Capital lifted their price target on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Evercore ISI reiterated an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

Institutional Trading of Impinj

Several hedge funds have recently added to or reduced their stakes in PI. Los Angeles Capital Management LLC increased its stake in shares of Impinj by 210.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock worth $1,855,000 after purchasing an additional 5,807 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Impinj in the fourth quarter valued at $3,341,000. Thrivent Financial for Lutherans bought a new position in shares of Impinj during the 3rd quarter worth $3,872,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Impinj during the 3rd quarter worth $846,000. Finally, Principal Financial Group Inc. increased its holdings in Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after acquiring an additional 122,579 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.