Insider Selling: Impinj, Inc. (NASDAQ:PI) CRO Sells $116,065.92 in Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 488 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.84, for a total value of $116,065.92. Following the completion of the transaction, the executive now directly owns 65,294 shares in the company, valued at $15,529,524.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, September 24th, Jeffrey Dossett sold 577 shares of Impinj stock. The stock was sold at an average price of $209.20, for a total transaction of $120,708.40.
• On Wednesday, July 31st, Jeffrey Dossett sold 15,000 shares of Impinj stock. The shares were sold at an average price of $157.81, for a total transaction of $2,367,150.00.

Impinj Trading Down 1.7 %

NASDAQ:PI opened at $229.76 on Friday. The business’s 50-day moving average is $189.41 and its 200 day moving average is $165.17. Impinj, Inc. has a 12 month low of $48.39 and a 12 month high of $239.88. The company has a market capitalization of $6.37 billion, a P/E ratio of -656.46 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. The business had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.14) EPS. On average, research analysts forecast that Impinj, Inc. will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

Several institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new stake in Impinj during the first quarter valued at approximately $32,000. SouthState Corp bought a new position in shares of Impinj during the 2nd quarter valued at approximately $94,000. nVerses Capital LLC raised its holdings in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Impinj by 117.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after buying an additional 521 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its stake in Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after buying an additional 549 shares during the period.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $195.00 price objective 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 report on Friday, July 26th. Evercore ISI boosted their price objective on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Roth Mkm increased their target price on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Piper Sandler reissued an “overweight” rating and issued a $225.00 price target (up from $180.00) on shares of Impinj in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.