Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio Sells 1,504 Shares

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 1,504 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total value of $219,914.88. Following the completion of the transaction, the chief executive officer now directly owns 331,572 shares in the company, valued at approximately $48,482,457.84. The trade was a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, October 29th, Chris Ph.D. Diorio sold 34,474 shares of Impinj stock. The stock was sold at an average price of $201.51, for a total transaction of $6,946,855.74.
• On Monday, October 14th, Chris Ph.D. Diorio sold 1,219 shares of Impinj stock. The stock was sold at an average price of $237.82, for a total value of $289,902.58.

Impinj Trading Down 0.7 %

PI traded down $0.98 on Thursday, hitting $147.78. 309,536 shares of the stock traded hands, compared to its average volume of 482,156. The business has a fifty day moving average price of $183.64 and a two-hundred day moving average price of $177.04. The firm has a market capitalization of $4.18 billion, a PE ratio of 166.04 and a beta of 1.80. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last announced 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. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter last year, the company earned ($0.36) earnings per share. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, equities research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on PI. Piper Sandler reiterated an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. The Goldman Sachs Group increased 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, Susquehanna boosted their target price on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Institutional Trading of Impinj

Several hedge funds have recently modified their holdings of the company. Raymond James & Associates lifted its position in Impinj by 30.2% during the 2nd quarter. Raymond James & Associates now owns 18,861 shares of the company’s stock worth $2,957,000 after buying an additional 4,373 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Impinj by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 121,159 shares of the company’s stock valued at $18,994,000 after purchasing an additional 7,496 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Impinj by 79.1% in the second quarter. Panagora Asset Management Inc. now owns 66,361 shares of the company’s stock valued at $10,403,000 after purchasing an additional 29,299 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new position in Impinj in the 2nd quarter worth approximately $275,000. Finally, nVerses Capital LLC lifted its holdings in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares in 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.