Impinj, Inc. (NASDAQ:PI) CFO Sells $1,590,800.00 in Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 10,000 shares of Impinj stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $159.08, for a total value of $1,590,800.00. Following the sale, the chief financial officer now directly owns 67,948 shares of the company’s stock, valued at approximately $10,809,167.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, April 15th, Cary Baker sold 374 shares of Impinj stock. The shares were sold at an average price of $118.70, for a total value of $44,393.80.
• On Monday, March 25th, Cary Baker sold 1,062 shares of Impinj stock. The shares were sold at an average price of $127.61, for a total value of $135,521.82.
• On Monday, March 18th, Cary Baker sold 306 shares of Impinj stock. The shares were sold at an average price of $123.55, for a total value of $37,806.30.
• On Friday, February 23rd, Cary Baker sold 4,829 shares of Impinj stock. The shares were sold at an average price of $101.17, for a total value of $488,549.93.
• On Monday, February 26th, Cary Baker sold 1,455 shares of Impinj stock. The shares were sold at an average price of $103.68, for a total value of $150,854.40.
• On Wednesday, February 14th, Cary Baker sold 20,000 shares of Impinj stock. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00.

Impinj Trading Up 0.9 %

Shares of PI opened at $161.23 on Monday. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $163.45. 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 firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of -460.66 and a beta of 1.85. The stock’s 50-day moving average price is $124.94 and its 200 day moving average price is $99.28.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. As a group, research analysts predict that Impinj, Inc. will post -0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PI has been the topic of several recent research reports. Canaccord Genuity Group raised their target price on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Susquehanna raised their target price on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a report on Tuesday, April 23rd. Piper Sandler restated an “overweight” rating and set a $150.00 target price (up from $130.00) on shares of Impinj in a report on Thursday, April 25th. Needham & Company LLC lifted their price objective on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Roth Mkm lifted their price objective on Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research note 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.89.

Hedge Funds Weigh In On Impinj

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Impinj by 2.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock valued at $462,000 after purchasing an additional 115 shares in the last quarter. Wealth Effects LLC boosted its holdings in Impinj by 1.0% during the first quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock valued at $1,945,000 after purchasing an additional 150 shares in the last quarter. Arizona State Retirement System boosted its holdings in Impinj by 3.3% during the third quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock valued at $355,000 after purchasing an additional 205 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the first quarter valued at approximately $32,000. Finally, GAMMA Investing LLC acquired a new stake in Impinj during the fourth quarter valued at approximately $40,000.

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.