Insider Selling: Impinj, Inc. (NASDAQ:PI) CRO Sells 580 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 580 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $84,714.80. Following the transaction, the executive now directly owns 66,180 shares in the company, valued at $9,666,250.80. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Jeffrey Dossett also recently made the following trade(s):

• On Thursday, November 14th, Jeffrey Dossett sold 7,500 shares of Impinj stock. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00.
• On Monday, October 14th, Jeffrey Dossett sold 488 shares of Impinj stock. The stock was sold at an average price of $237.84, for a total transaction of $116,065.92.

Impinj Price Performance

Shares of PI opened at $147.78 on Friday. The company has a 50-day moving average of $183.64 and a two-hundred day moving average of $177.04. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 166.04 and a beta of 1.80. Impinj, Inc. has a one year low of $78.17 and a one year high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $92.86 million. During the same quarter last year, the business posted ($0.36) EPS. The company’s revenue was up 46.5% on a year-over-year basis. 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 modified their holdings of the business. National Bank of Canada FI purchased a new stake in Impinj in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC increased 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 worth $33,000 after acquiring an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj in the third quarter worth $54,000. SouthState Corp purchased a new stake in shares of Impinj during the second quarter worth $94,000. Finally, Asset Management One Co. Ltd. acquired a new stake in Impinj during the third quarter valued at $138,000.

Analysts Set New Price Targets

A number of research analysts recently commented on PI shares. Lake Street Capital raised their price objective on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Cantor Fitzgerald upped their price objective on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Needham & Company LLC raised their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Susquehanna boosted their price target 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Impinj has a consensus 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.