Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells 496 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 496 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the transaction, the chief financial officer now directly owns 70,524 shares of the company’s stock, valued at $14,751,505.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, July 15th, Cary Baker sold 356 shares of Impinj stock. The stock was sold at an average price of $175.42, for a total transaction of $62,449.52.

Impinj Trading Up 0.6 %

NASDAQ:PI opened at $214.05 on Thursday. The company has a 50 day simple moving average of $167.65 and a two-hundred day simple moving average of $154.27. The company has a market cap of $6.02 billion, a PE ratio of -611.57 and a beta of 1.78. Impinj, Inc. has a 12 month low of $48.39 and a 12 month high of $217.66.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. During the same quarter last year, the firm posted ($0.14) earnings per share. The firm’s revenue was up 19.2% compared to the same quarter last year. Research analysts forecast that Impinj, Inc. will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PI. Capital International Investors bought a new stake in Impinj during the 4th quarter valued at approximately $68,211,000. Assenagon Asset Management S.A. purchased a new stake in Impinj during the 2nd quarter valued at approximately $103,252,000. Jennison Associates LLC purchased a new stake in Impinj during the 1st quarter valued at approximately $25,747,000. Renaissance Technologies LLC bought a new stake in shares of Impinj during the second quarter valued at approximately $30,116,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Impinj in the first quarter worth $19,195,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Impinj in a research report on Thursday, July 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $205.00 price target on shares of Impinj in a report on Thursday, July 25th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Roth Mkm upped their price objective on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Piper Sandler lifted their target price on shares of Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $187.10.

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.