Impinj, Inc. (NASDAQ:PI) Insider Cathal G. Phelan Sells 565 Shares

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 565 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the transaction, the insider now directly owns 7,925 shares in the company, valued at approximately $782,752.25. This trade represents a 6.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Impinj Price Performance

Shares of NASDAQ:PI opened at $93.14 on Wednesday. The company has a market capitalization of $2.66 billion, a P/E ratio of 68.49 and a beta of 1.88. Impinj, Inc. has a 1 year low of $91.99 and a 1 year high of $239.88. The business’s 50 day simple moving average is $131.02 and its 200 day simple moving average is $168.64.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, sell-side analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Impinj

Several institutional investors and hedge funds have recently added to or reduced their stakes in PI. Creative Planning lifted its stake in Impinj by 23.4% during the third quarter. Creative Planning now owns 12,046 shares of the company’s stock worth $2,608,000 after purchasing an additional 2,287 shares during the last quarter. Raymond James & Associates lifted 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 purchasing an additional 4,090 shares during the last quarter. Highland Capital Management LLC bought a new stake in Impinj during the third quarter worth $222,000. Louisiana State Employees Retirement System bought a new stake in Impinj during the third quarter worth $2,382,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Impinj by 157.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company’s stock valued at $2,009,000 after acquiring an additional 5,669 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Cantor Fitzgerald lowered their price target on Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group decreased their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Susquehanna decreased their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC decreased their target price on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $180.10.

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.