Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio Sells 34,474 Shares

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 34,474 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $201.51, for a total value of $6,946,855.74. Following the completion of the transaction, the chief executive officer now directly owns 294,438 shares of the company’s stock, valued at approximately $59,332,201.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Chris Ph.D. Diorio also recently made the following trade(s):

• On Monday, October 14th, Chris Ph.D. Diorio sold 1,219 shares of Impinj stock. The shares were sold at an average price of $237.82, for a total value of $289,902.58.
• On Tuesday, September 24th, Chris Ph.D. Diorio sold 1,498 shares of Impinj stock. The shares were sold at an average price of $209.12, for a total value of $313,261.76.

Impinj Stock Performance

PI traded down $1.73 during mid-day trading on Thursday, reaching $189.99. The stock had a trading volume of 374,171 shares, compared to its average volume of 470,737. The firm’s fifty day simple moving average is $198.64 and its two-hundred day simple moving average is $170.87. The stock has a market capitalization of $5.27 billion, a P/E ratio of -541.63 and a beta of 1.80. Impinj, Inc. has a 52 week low of $59.64 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.36) earnings per share. As a group, analysts expect that Impinj, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PI has been the subject of a number of recent analyst reports. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and issued a $235.00 target price (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Lake Street Capital increased their price target on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC lifted their price objective on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One equities 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. Based on data from MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Institutional Trading of Impinj

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Impinj during the 1st quarter worth about $513,000. TimesSquare Capital Management LLC acquired a new position in Impinj during the first quarter worth about $19,195,000. Harbor Capital Advisors Inc. boosted its position in Impinj by 112.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock valued at $2,122,000 after buying an additional 7,151 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Impinj by 13.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after acquiring an additional 7,247 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Impinj by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after buying an additional 35,893 shares during the period.

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.