Cary Baker Sells 1,553 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 1,553 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total transaction of $153,374.28. Following the transaction, the chief financial officer now owns 76,451 shares of the company’s stock, valued at approximately $7,550,300.76. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, January 13th, Cary Baker sold 290 shares of Impinj stock. The stock was sold at an average price of $140.96, for a total transaction of $40,878.40.
• On Tuesday, December 24th, Cary Baker sold 499 shares of Impinj stock. The stock was sold at an average price of $146.06, for a total transaction of $72,883.94.

Impinj Trading Down 1.6 %

Shares of PI stock opened at $93.14 on Wednesday. Impinj, Inc. has a 12 month low of $91.99 and a 12 month high of $239.88. The stock has a market cap of $2.66 billion, a PE ratio of 68.49 and a beta of 1.88. The company’s fifty day moving average price is $131.02 and its 200-day moving average price is $168.64.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. On average, sell-side analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PI. Piper Sandler lowered their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Susquehanna lowered their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Needham & Company LLC decreased their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald cut their target price on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, The Goldman Sachs Group cut their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and a consensus price target of $180.10.

Hedge Funds Weigh In On Impinj

Several large investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Impinj by 1.5% in the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after purchasing an additional 60,461 shares during the last quarter. Sylebra Capital LLC grew its stake in shares of Impinj by 8.6% during the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock valued at $504,360,000 after purchasing an additional 274,764 shares during the period. Vanguard Group Inc. grew its stake in shares of Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock valued at $500,009,000 after purchasing an additional 104,861 shares during the period. Capital International Investors grew its stake in shares of Impinj by 45.0% during the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock valued at $221,897,000 after purchasing an additional 473,721 shares during the period. Finally, State Street Corp grew its stake in shares of Impinj by 25.7% during the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after acquiring an additional 220,776 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.