Jeffrey Dossett Sells 8,000 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 8,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $145.77, for a total value of $1,166,160.00. Following the sale, the executive now owns 60,850 shares of the company’s stock, valued at $8,870,104.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, April 15th, Jeffrey Dossett sold 498 shares of Impinj stock. The stock was sold at an average price of $118.70, for a total value of $59,112.60.
• 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 value 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 value 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 value 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 value of $491,192.38.

Impinj Price Performance

Shares of PI stock opened at $154.66 on Thursday. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $160.71. The stock’s 50-day moving average is $122.57 and its 200 day moving average is $97.47. The company has a market cap of $4.29 billion, a P/E ratio of -441.89 and a beta of 2.05. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The company had revenue of $76.83 million for the quarter, compared to the consensus estimate of $73.57 million. Research analysts predict that Impinj, Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Impinj

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Impinj by 0.8% in the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after buying an additional 31,289 shares during the last quarter. Sylebra Capital LLC purchased a new stake in Impinj in the third quarter valued at about $217,290,000. Westfield Capital Management Co. LP raised its stake in Impinj by 40.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after buying an additional 292,470 shares during the last quarter. Fred Alger Management LLC raised its stake in Impinj by 249.6% in the third quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after buying an additional 568,301 shares during the last quarter. Finally, Capital International Investors purchased a new stake in Impinj in the fourth quarter valued at about $68,211,000.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PI shares. Susquehanna increased their price target on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a report on Tuesday, April 23rd. Evercore ISI started coverage on Impinj in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Impinj from $130.00 to $156.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Roth Mkm upped their price objective on Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Needham & Company LLC upped their price objective on Impinj from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.89.

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.