Impinj, Inc. (NASDAQ:PI) CFO Sells 499 Shares

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 499 shares of Impinj stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $72,883.94. Following the transaction, the chief financial officer now directly owns 71,107 shares in the company, valued at approximately $10,385,888.42. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, October 28th, Cary Baker sold 15,000 shares of Impinj stock. The stock was sold at an average price of $204.90, for a total transaction of $3,073,500.00.
• 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.

Impinj Stock Down 0.7 %

Shares of PI stock traded down $0.98 on Thursday, hitting $147.78. The stock had a trading volume of 309,536 shares, compared to its average volume of 482,156. Impinj, Inc. has a one year low of $78.17 and a one year high of $239.88. The business has a 50 day moving average price of $183.64 and a 200 day moving average price of $177.04. The company has a market cap of $4.18 billion, a PE ratio of 166.04 and a beta of 1.80.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period last year, the firm earned ($0.36) earnings per share. Equities research analysts expect that Impinj, Inc. will post 0.4 EPS for the current year.

Analyst Ratings Changes

PI has been the subject of a number of research reports. Evercore ISI reiterated an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Lake Street Capital lifted their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Cantor Fitzgerald boosted their price objective on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC upped their price objective on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Impinj has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. National Bank of Canada FI acquired a new stake in Impinj in the third quarter valued at approximately $30,000. Farther Finance Advisors LLC boosted its position in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Impinj during the 3rd quarter worth $54,000. SouthState Corp purchased a new stake in Impinj in the second quarter valued at about $94,000. Finally, Asset Management One Co. Ltd. acquired a new stake in Impinj in the third quarter worth about $138,000.

Impinj Company Profile

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.