Impinj, Inc. (NASDAQ:PI) CFO Cary Baker Sells 15,000 Shares

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $204.90, for a total transaction of $3,073,500.00. Following the sale, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at $14,567,570.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, October 14th, Cary Baker sold 366 shares of Impinj stock. The stock was sold at an average price of $237.83, for a total transaction of $87,045.78.
• On Tuesday, September 24th, Cary Baker sold 496 shares of Impinj stock. The stock was sold at an average price of $209.17, for a total transaction of $103,748.32.

Impinj Price Performance

Shares of PI traded down $8.28 on Wednesday, reaching $191.72. 477,074 shares of the stock traded hands, compared to its average volume of 471,197. The stock’s 50-day moving average price is $198.10 and its 200-day moving average price is $170.72. Impinj, Inc. has a 12 month low of $59.64 and a 12 month high of $239.88. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of -556.31 and a beta of 1.80.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same period in the previous year, the firm posted ($0.36) earnings per share. The company’s revenue was up 46.5% on a year-over-year basis. As a group, equities research analysts forecast that Impinj, Inc. will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on PI. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price objective (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Needham & Company LLC lifted their price objective on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. The Goldman Sachs Group lifted 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, StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PI. First Bank & Trust boosted its holdings in shares of Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock valued at $383,000 after buying an additional 55 shares during the period. Farther Finance Advisors LLC raised its position 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 acquiring an additional 141 shares in the last quarter. Hsbc Holdings PLC raised its position in Impinj by 7.3% during the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after acquiring an additional 190 shares in the last quarter. Rhumbline Advisers raised its position in shares of Impinj by 0.8% in the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock valued at $5,158,000 after purchasing an additional 248 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Impinj in the third quarter valued at about $54,000.

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.