Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells 1,553 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 1,553 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.76, for a total value of $153,374.28. Following the transaction, the chief financial officer now owns 76,451 shares in the company, valued at $7,550,300.76. This represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, January 13th, Cary Baker sold 290 shares of Impinj stock. The shares were sold at an average price of $140.96, for a total value of $40,878.40.
• On Tuesday, December 24th, Cary Baker sold 499 shares of Impinj stock. The shares were sold at an average price of $146.06, for a total value of $72,883.94.

Impinj Stock Performance

Shares of Impinj stock opened at $94.62 on Tuesday. The business’s 50 day moving average price is $131.02 and its 200 day moving average price is $168.64. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 69.57 and a beta of 1.88. Impinj, Inc. has a one year low of $93.54 and a one year high of $239.88.

Impinj (NASDAQ:PI) last issued its 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, analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on PI shares. Susquehanna cut their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Needham & Company LLC cut their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Cantor Fitzgerald reduced their price target on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Piper Sandler lowered their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, The Goldman Sachs Group cut their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. One 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.10.

Hedge Funds Weigh In On Impinj

A number of institutional investors have recently bought and sold shares of PI. FMR LLC lifted its stake in shares of Impinj by 1.5% in the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after purchasing an additional 60,461 shares during the last quarter. Sylebra Capital LLC raised its holdings in Impinj by 8.6% in the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock valued at $504,360,000 after buying an additional 274,764 shares during the period. Vanguard Group Inc. lifted its position in Impinj by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock valued at $500,009,000 after buying an additional 104,861 shares during the last quarter. Capital International Investors boosted its stake in Impinj by 45.0% during the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock worth $221,897,000 after buying an additional 473,721 shares during the period. Finally, State Street Corp increased its position in shares of Impinj by 25.7% during the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after acquiring an additional 220,776 shares during the last quarter.

Impinj Company Profile

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.