Chris Ph.D. Diorio Sells 1,498 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 1,498 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total value of $313,261.76. Following the completion of the transaction, the chief executive officer now owns 292,532 shares of the company’s stock, valued at $61,174,291.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, July 15th, Chris Ph.D. Diorio sold 1,187 shares of Impinj stock. The stock was sold at an average price of $175.43, for a total transaction of $208,235.41.
• On Monday, July 8th, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The shares were sold at an average price of $162.32, for a total transaction of $811,600.00.
• On Monday, July 1st, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The shares were sold at an average price of $154.03, for a total transaction of $770,150.00.

Impinj Stock Down 2.1 %

PI stock opened at $213.31 on Friday. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $220.17. The firm has a 50-day simple moving average of $168.51 and a 200-day simple moving average of $154.71. The stock has a market capitalization of $5.91 billion, a P/E ratio of -608.49 and a beta of 1.78.

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

Institutional Investors Weigh In On Impinj

A number of hedge funds have recently modified their holdings of PI. Future Financial Wealth Managment LLC acquired a new position in Impinj during the first quarter worth about $32,000. SouthState Corp purchased a new position in Impinj in the 2nd quarter worth approximately $94,000. nVerses Capital LLC boosted its holdings in shares of Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Impinj by 117.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after purchasing an additional 521 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. increased its holdings in shares of Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after purchasing an additional 549 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PI. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Lake Street Capital lifted their price target on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Roth Mkm upped their price objective on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Evercore ISI raised their price objective on shares of Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $225.00 target price (up from $180.00) on shares of Impinj in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Impinj 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.