Impinj, Inc. (NASDAQ:PI) CEO Sells $823,232.52 in Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the transaction, the chief executive officer now owns 354,076 shares in the company, valued at approximately $34,975,627.28. The trade was a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Chris Ph.D. Diorio also recently made the following trade(s):

• On Monday, January 13th, Chris Ph.D. Diorio sold 841 shares of Impinj stock. The stock was sold at an average price of $141.02, for a total value of $118,597.82.
• On Tuesday, December 24th, Chris Ph.D. Diorio sold 1,504 shares of Impinj stock. The shares were sold at an average price of $146.22, for a total value of $219,914.88.

Impinj Price Performance

Shares of PI stock traded down $2.13 during trading on Monday, reaching $94.62. The company had a trading volume of 543,084 shares, compared to its average volume of 766,156. The company has a market capitalization of $2.70 billion, a PE ratio of 69.57 and a beta of 1.88. The firm’s 50 day simple moving average is $132.13 and its two-hundred day simple moving average is $169.02. Impinj, Inc. has a one year low of $93.54 and a one year high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. Analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Susquehanna dropped their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Cantor Fitzgerald decreased their target price on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Piper Sandler dropped their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Needham & Company LLC reduced their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $180.10.

Institutional Investors Weigh In On Impinj

A number of hedge funds have recently bought and sold shares of PI. National Bank of Canada FI bought a new position in shares of Impinj in the third quarter worth about $30,000. Farther Finance Advisors LLC grew its holdings in Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Impinj in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Impinj during the fourth quarter worth approximately $33,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after buying an additional 175 shares during the last quarter.

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.