Impinj, Inc. (NASDAQ:PI) CRO Sells $2,367,150.00 in Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total value of $2,367,150.00. Following the completion of the transaction, the executive now directly owns 63,642 shares in the company, valued at $10,043,344.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, July 15th, Jeffrey Dossett sold 475 shares of Impinj stock. The shares were sold at an average price of $175.38, for a total transaction of $83,305.50.
• On Monday, June 24th, Jeffrey Dossett sold 584 shares of Impinj stock. The stock was sold at an average price of $147.58, for a total transaction of $86,186.72.
• On Monday, June 17th, Jeffrey Dossett sold 739 shares of Impinj stock. The shares were sold at an average price of $149.88, for a total transaction of $110,761.32.

Impinj Price Performance

Shares of PI stock traded down $5.18 on Friday, hitting $139.34. The stock had a trading volume of 626,493 shares, compared to its average volume of 443,497. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $181.88. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -412.91 and a beta of 1.78. The business has a 50 day moving average of $159.58 and a 200 day moving average of $135.97.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.14) EPS. As a group, research analysts expect that Impinj, Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on PI. Lake Street Capital raised their target price on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Piper Sandler raised their price objective on Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Susquehanna upped their target price on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Evercore ISI lifted their price target on shares of Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Impinj in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.10.

Institutional Investors Weigh In On Impinj

Several large investors have recently modified their holdings of the stock. Capital International Investors bought a new position in shares of Impinj in the fourth quarter valued at approximately $68,211,000. Assenagon Asset Management S.A. purchased a new stake in Impinj in the 2nd quarter worth approximately $103,252,000. Jennison Associates LLC bought a new position in Impinj in the 1st quarter valued at $25,747,000. TimesSquare Capital Management LLC purchased a new position in shares of Impinj during the 1st quarter valued at $19,195,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Impinj during the 1st quarter valued at $9,659,000.

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.