Insider Selling: Impinj, Inc. (NASDAQ:PI) CRO Sells 498 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 498 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $118.70, for a total transaction of $59,112.60. Following the completion of the transaction, the executive now owns 60,850 shares of the company’s stock, valued at approximately $7,222,895. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Jeffrey Dossett also recently made the following trade(s):

• On Monday, March 25th, Jeffrey Dossett sold 1,208 shares of Impinj stock. The shares were sold at an average price of $126.95, for a total transaction of $153,355.60.
• On Monday, March 18th, Jeffrey Dossett sold 3,732 shares of Impinj stock. The shares were sold at an average price of $122.62, for a total transaction of $457,617.84.
• On Friday, March 15th, Jeffrey Dossett sold 3,000 shares of Impinj stock. The shares were sold at an average price of $121.72, for a total transaction of $365,160.00.
• On Friday, February 23rd, Jeffrey Dossett sold 4,858 shares of Impinj stock. The shares were sold at an average price of $101.11, for a total transaction of $491,192.38.

Impinj Price Performance

Shares of Impinj stock traded down $0.23 during midday trading on Wednesday, hitting $121.16. The company had a trading volume of 212,150 shares, compared to its average volume of 367,482. The business’s 50 day simple moving average is $115.60 and its two-hundred day simple moving average is $91.31. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $142.70.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.11. The business had revenue of $70.65 million for the quarter, compared to the consensus estimate of $67.10 million. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. On average, equities research analysts anticipate that Impinj, Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Impinj

Hedge funds and other institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the first quarter worth $32,000. Advisors Asset Management Inc. acquired a new stake in Impinj during the first quarter worth $39,000. GAMMA Investing LLC acquired a new stake in Impinj during the fourth quarter worth $40,000. KBC Group NV acquired a new stake in Impinj during the fourth quarter worth $47,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Impinj during the third quarter worth $55,000.

Analyst Upgrades and Downgrades

A number of research firms have commented on PI. The Goldman Sachs Group upped their price objective on shares of Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Roth Mkm increased their price target on shares of Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. StockNews.com raised shares of Impinj to a “sell” rating in a research report on Friday, February 9th. Canaccord Genuity Group increased their price target on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Evercore ISI initiated coverage on shares of Impinj in a research report on Tuesday. They issued an “outperform” rating and a $160.00 price target for the company. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.44.

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.