Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells $72,883.94 in Stock

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

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

• On Monday, October 28th, Cary Baker sold 15,000 shares of Impinj stock. The shares were sold at an average price of $204.90, for a total value of $3,073,500.00.
• On Monday, October 14th, Cary Baker sold 366 shares of Impinj stock. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78.

Impinj Stock Performance

NASDAQ:PI opened at $147.85 on Friday. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 166.12 and a beta of 1.80. Impinj, Inc. has a 1 year low of $78.17 and a 1 year high of $239.88. The stock has a fifty day moving average price of $180.59 and a two-hundred day moving average price of $177.03.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate 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 business earned ($0.36) earnings per share. The business’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, analysts predict that Impinj, Inc. will post 0.4 EPS for the current year.

Institutional Investors Weigh In On Impinj

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

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Susquehanna raised their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Evercore ISI restated an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, Lake Street Capital increased their price target on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

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.