Insider Selling: Impinj, Inc. (NASDAQ:PI) Insider Sells 210 Shares of Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 210 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the sale, the insider now directly owns 6,979 shares of the company’s stock, valued at approximately $1,019,352.74. The trade was a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Impinj Trading Down 0.7 %

Shares of PI traded down $0.98 during trading hours on Thursday, hitting $147.78. The company had a trading volume of 309,536 shares, compared to its average volume of 482,156. The company has a market capitalization of $4.18 billion, a PE ratio of 166.04 and a beta of 1.80. Impinj, Inc. has a one year low of $78.17 and a one year high of $239.88. The company’s fifty day moving average price is $183.64 and its two-hundred day moving average price is $177.04.

Impinj (NASDAQ:PI) last issued its quarterly earnings results 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. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.36) earnings per share. Analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Trading of Impinj

Several large investors have recently made changes to their positions in PI. National Bank of Canada FI purchased a new position in shares of Impinj during the third quarter worth $30,000. Farther Finance Advisors LLC lifted its holdings 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 acquiring an additional 141 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Impinj in the 3rd quarter worth approximately $54,000. SouthState Corp acquired a new stake in shares of Impinj during the 2nd quarter worth approximately $94,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Impinj in the third quarter worth about $138,000.

Analyst Ratings Changes

A number of research firms recently issued reports on PI. Lake Street Capital boosted their price objective on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Susquehanna increased their price objective on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Finally, Needham & Company LLC raised their price objective on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $224.60.

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.