Cathal G. Phelan Sells 11,549 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 11,549 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $200.81, for a total value of $2,319,154.69. Following the sale, the insider now directly owns 6,098 shares of the company’s stock, valued at $1,224,539.38. This trade represents a 0.00 % 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.

Impinj Stock Up 0.3 %

PI opened at $203.56 on Friday. Impinj, Inc. has a 12-month low of $67.63 and a 12-month high of $239.88. The firm has a market capitalization of $5.76 billion, a P/E ratio of 228.72 and a beta of 1.81. The stock’s 50 day moving average price is $203.31 and its two-hundred day moving average price is $174.63.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same quarter last year, the company posted ($0.36) earnings per share. Impinj’s quarterly revenue was up 46.5% on a year-over-year basis. As a group, analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Impinj in the 1st quarter valued at approximately $513,000. TimesSquare Capital Management LLC acquired a new position in shares of Impinj in the first quarter valued at $19,195,000. Harbor Capital Advisors Inc. lifted its position in Impinj by 112.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock worth $2,122,000 after purchasing an additional 7,151 shares during the period. Raymond James & Associates boosted its stake in Impinj by 21.7% during the third quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock worth $4,969,000 after buying an additional 4,090 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after buying an additional 35,893 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PI shares. Piper Sandler reiterated an “overweight” rating and issued a $235.00 target price (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Cantor Fitzgerald increased their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Susquehanna boosted their price target on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $224.60.

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.