Impinj, Inc. (NASDAQ:PI) CRO Sells $84,714.80 in Stock

Impinj, Inc. (NASDAQ:PI - Get Free Report) CRO Jeffrey Dossett sold 580 shares of the company's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $84,714.80. Following the completion of the sale, the executive now owns 66,180 shares of the company's stock, valued at approximately $9,666,250.80. The trade was a 0.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Jeffrey Dossett also recently made the following trade(s):

• On Thursday, November 14th, Jeffrey Dossett sold 7,500 shares of Impinj stock. The shares were sold at an average price of $181.17, for a total value of $1,358,775.00.
• On Monday, October 14th, Jeffrey Dossett sold 488 shares of Impinj stock. The stock was sold at an average price of $237.84, for a total transaction of $116,065.92.

Impinj Stock Performance

NASDAQ:PI traded down $0.98 during trading hours on Thursday, reaching $147.78. The stock had a trading volume of 309,536 shares, compared to its average volume of 482,156. The stock has a market capitalization of $4.18 billion, a PE ratio of 166.04 and a beta of 1.80. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88. The company has a 50 day moving average price of $183.64 and a two-hundred day moving average price of $177.04.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PI. FMR LLC increased its position in Impinj by 1.5% during the third quarter. FMR LLC now owns 4,217,403 shares of the company's stock valued at $913,152,000 after acquiring an additional 60,461 shares during the last quarter. State Street Corp boosted 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 worth $233,555,000 after purchasing an additional 220,776 shares during the period. Geode Capital Management LLC grew its holdings in Impinj by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company's stock valued at $117,576,000 after purchasing an additional 7,676 shares during the last quarter. Jennison Associates LLC raised its position in Impinj by 15.0% in the 3rd quarter. Jennison Associates LLC now owns 239,140 shares of the company's stock worth $51,779,000 after purchasing an additional 31,269 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Impinj by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company's stock worth $41,840,000 after purchasing an additional 6,232 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PI shares. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. Lake Street Capital increased their price target on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Piper Sandler restated an "overweight" rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Evercore ISI reiterated an "outperform" rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Susquehanna lifted their target price on Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a research note on Monday, October 21st. One 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's stock. According to MarketBeat.com, Impinj has a consensus rating of "Moderate Buy" and a consensus price target of $224.60.

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.