Impinj, Inc. (NASDAQ:PI) CFO Sells $72,883.94 in Stock

Impinj, Inc. (NASDAQ:PI - Get Free Report) CFO Cary Baker sold 499 shares of the company's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $72,883.94. Following the completion of the transaction, the chief financial officer now directly owns 71,107 shares in the company, valued at approximately $10,385,888.42. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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.
• On Monday, October 14th, Cary Baker sold 366 shares of Impinj stock. The stock was sold at an average price of $237.83, for a total transaction of $87,045.78.

Impinj Price Performance

Shares of PI traded down $0.98 during mid-day trading on Thursday, reaching $147.78. The stock had a trading volume of 309,536 shares, compared to its average volume of 482,156. The business's fifty day moving average is $183.64 and its 200 day moving average is $177.04. Impinj, Inc. has a 52-week low of $78.17 and a 52-week high of $239.88. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 166.04 and a beta of 1.80.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analysts' expectations of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business's revenue for the quarter was up 46.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.36) EPS. As a group, sell-side analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PI shares. Lake Street Capital boosted their target price on shares of Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Susquehanna upped their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a research report on Monday, October 21st. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a report on Friday, October 25th. Cantor Fitzgerald increased their price objective on Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group upped their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $224.60.

Institutional Investors Weigh In On Impinj

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Bank & Trust boosted its holdings in Impinj by 3.2% during the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company's stock valued at $383,000 after acquiring an additional 55 shares during the period. National Bank of Canada FI purchased a new stake in Impinj during the 3rd quarter worth about $30,000. Farther Finance Advisors LLC boosted 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 purchasing an additional 141 shares in the last quarter. KBC Group NV grew its position in shares of Impinj by 29.7% in the 3rd quarter. KBC Group NV now owns 681 shares of the company's stock valued at $147,000 after buying an additional 156 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Impinj by 7.3% during the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company's stock worth $432,000 after purchasing an additional 190 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.