Impinj, Inc. (NASDAQ:PI) CFO Sells $40,878.40 in Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 290 shares of Impinj stock in a transaction on Monday, January 13th. The shares were sold at an average price of $140.96, for a total value of $40,878.40. Following the completion of the transaction, the chief financial officer now owns 71,754 shares of the company’s stock, valued at approximately $10,114,443.84. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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.
• On Monday, October 28th, Cary Baker sold 15,000 shares of Impinj stock. The stock was sold at an average price of $204.90, for a total value of $3,073,500.00.

Impinj Price Performance

NASDAQ PI opened at $149.31 on Wednesday. The company has a fifty day moving average of $167.35 and a two-hundred day moving average of $176.99. Impinj, Inc. has a 1 year low of $78.17 and a 1 year high of $239.88. The company has a market capitalization of $4.22 billion, a PE ratio of 167.76 and a beta of 1.88.

Impinj (NASDAQ:PI) last released 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 firm 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 firm’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.36) EPS. On average, research analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PI shares. Needham & Company LLC lifted their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Evercore ISI reissued an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Lake Street Capital lifted their price target on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Impinj currently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Hedge Funds Weigh In On Impinj

A number of hedge funds have recently modified their holdings of PI. FMR LLC raised its position in 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. State Street Corp raised its holdings in shares of Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after buying an additional 220,776 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Impinj by 1.4% in the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after buying an additional 7,676 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Impinj by 15.0% during the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after buying an additional 31,269 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Impinj by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock worth $41,840,000 after buying an additional 6,232 shares during the last quarter.

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.