Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio Sells 1,504 Shares

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 1,504 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total transaction of $219,914.88. Following the completion of the transaction, the chief executive officer now directly owns 331,572 shares of the company’s stock, valued at $48,482,457.84. The trade was a 0.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Chris Ph.D. Diorio also recently made the following trade(s):

• On Tuesday, October 29th, Chris Ph.D. Diorio sold 34,474 shares of Impinj stock. The stock was sold at an average price of $201.51, for a total transaction of $6,946,855.74.
• On Monday, October 14th, Chris Ph.D. Diorio sold 1,219 shares of Impinj stock. The shares were sold at an average price of $237.82, for a total transaction of $289,902.58.

Impinj Price Performance

NASDAQ PI opened at $147.78 on Friday. The business’s 50-day simple moving average is $183.64 and its 200-day simple moving average is $177.04. The firm has a market capitalization of $4.18 billion, a P/E ratio of 166.04 and a beta of 1.80. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last released 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 company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same period in the previous year, the firm earned ($0.36) earnings per share. Impinj’s revenue for the quarter was up 46.5% on a year-over-year basis. On average, equities research analysts expect that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Trading of Impinj

A number of institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI purchased a new position in Impinj in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC boosted its stake in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the 3rd quarter valued at $54,000. SouthState Corp acquired a new stake in Impinj during the 2nd quarter valued at $94,000. Finally, Asset Management One Co. Ltd. purchased a new stake in Impinj during the 3rd quarter worth $138,000.

Wall Street Analyst Weigh In

Several research firms have commented on PI. Piper Sandler reaffirmed 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 reiterated an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Lake Street Capital raised their price target on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price target on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Cantor Fitzgerald increased their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.