Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells $87,045.78 in Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 366 shares of Impinj stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.83, for a total value of $87,045.78. Following the completion of the transaction, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at approximately $16,908,761.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, September 24th, Cary Baker sold 496 shares of Impinj stock. The stock was sold at an average price of $209.17, for a total value of $103,748.32.

Impinj Stock Down 1.7 %

Impinj stock opened at $229.76 on Friday. The business has a 50-day simple moving average of $189.41 and a two-hundred day simple moving average of $165.17. The company has a market cap of $6.37 billion, a P/E ratio of -656.46 and a beta of 1.80. Impinj, Inc. has a 52-week low of $48.39 and a 52-week high of $239.88.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PI. Future Financial Wealth Managment LLC bought a new position in shares of Impinj during the 1st quarter valued at approximately $32,000. Deltec Asset Management LLC bought a new position in shares of Impinj during the 1st quarter valued at approximately $584,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after acquiring an additional 521 shares during the period. Principal Financial Group Inc. boosted its stake in Impinj by 16.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock worth $403,000 after purchasing an additional 454 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Impinj by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after purchasing an additional 7,247 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PI shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price target on shares of Impinj in a research report on Thursday, July 25th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Evercore ISI boosted their target price on Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Susquehanna boosted their target price on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Finally, Lake Street Capital boosted their target price on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average target price of $191.60.

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.