Umesh Padval Sells 3,475 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) Director Umesh Padval sold 3,475 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $151.39, for a total transaction of $526,080.25. Following the transaction, the director now owns 3,529 shares of the company’s stock, valued at approximately $534,255.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Impinj Price Performance

PI stock opened at $154.66 on Thursday. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $160.71. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. The company has a fifty day simple moving average of $122.57 and a two-hundred day simple moving average of $97.47. The firm has a market capitalization of $4.29 billion, a P/E ratio of -441.89 and a beta of 2.05.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.14. The firm had revenue of $76.83 million during the quarter, compared to analyst estimates of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. Analysts anticipate that Impinj, Inc. will post -0.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PI has been the subject of a number of research reports. Evercore ISI initiated coverage on shares of Impinj in a research report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 target price for the company. Susquehanna upped their target price on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research report on Tuesday, April 23rd. Roth Mkm upped their target price on shares of Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Piper Sandler restated an “overweight” rating and set a $150.00 target price (up previously from $130.00) on shares of Impinj 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 assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $132.89.

Institutional Investors Weigh In On Impinj

Several institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Impinj by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after acquiring an additional 7,247 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Impinj by 16.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock worth $403,000 after acquiring an additional 454 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Impinj by 117.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after acquiring an additional 521 shares during the last quarter. Wealth Effects LLC lifted its holdings in shares of Impinj by 1.0% in the 1st quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock worth $1,945,000 after acquiring an additional 150 shares during the last quarter. Finally, Deltec Asset Management LLC bought a new stake in shares of Impinj in the 1st quarter worth about $584,000.

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.