Cary Baker Sells 499 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 499 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $72,883.94. Following the completion of the transaction, the chief financial officer now owns 71,107 shares in the company, valued at $10,385,888.42. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, October 28th, Cary Baker sold 15,000 shares of Impinj stock. The shares were sold at an average price of $204.90, for a total value of $3,073,500.00.
• On Monday, October 14th, Cary Baker sold 366 shares of Impinj stock. The stock was sold at an average price of $237.83, for a total value of $87,045.78.

Impinj Price Performance

NASDAQ:PI opened at $147.78 on Friday. The stock has a market capitalization of $4.18 billion, a PE ratio of 166.04 and a beta of 1.80. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The business’s 50-day simple moving average is $183.64 and its 200-day simple moving average is $177.04.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same period last year, the company earned ($0.36) earnings per share. Impinj’s quarterly revenue was up 46.5% on a year-over-year basis. On average, research analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

PI has been the topic of several recent research reports. Susquehanna raised their target price on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Cantor Fitzgerald increased their price target on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group increased their target price on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Institutional Investors Weigh In On Impinj

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PI. First Bank & Trust boosted its stake in shares of Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after buying an additional 55 shares during the last quarter. National Bank of Canada FI acquired a new position in Impinj during the third quarter valued at approximately $30,000. Farther Finance Advisors LLC grew its stake in 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 in the last quarter. KBC Group NV increased its position in shares of Impinj by 29.7% during the 3rd quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after purchasing an additional 156 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after purchasing an additional 190 shares in the last quarter.

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.