Insider Selling: Impinj, Inc. (NASDAQ:PI) CEO Sells 841 Shares of Stock

Impinj, Inc. (NASDAQ:PI - Get Free Report) CEO Chris Ph.D. Diorio sold 841 shares of Impinj stock in a transaction on Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $118,597.82. Following the sale, the chief executive officer now owns 333,856 shares in the company, valued at $47,080,373.12. This represents a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, December 24th, Chris Ph.D. Diorio sold 1,504 shares of Impinj stock. The shares were sold at an average price of $146.22, for a total transaction of $219,914.88.
• On Tuesday, October 29th, Chris Ph.D. Diorio sold 34,474 shares of Impinj stock. The shares were sold at an average price of $201.51, for a total transaction of $6,946,855.74.

Impinj Stock Up 2.0 %

PI traded up $2.99 during trading on Tuesday, reaching $149.31. 473,899 shares of the company's stock were exchanged, compared to its average volume of 410,137. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The business has a 50 day moving average price of $168.32 and a 200 day moving average price of $177.04. The company has a market capitalization of $4.22 billion, a P/E ratio of 167.76 and a beta of 1.88.

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 negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million during the quarter, compared to analysts' expectations of $92.86 million. During the same period in the previous year, the business posted ($0.36) earnings per share. The firm's revenue for the quarter was up 46.5% compared to the same quarter last year. As a group, research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Institutional Trading of Impinj

A number of institutional investors and hedge funds have recently modified their holdings of PI. National Bank of Canada FI acquired a new stake in shares of Impinj in the 3rd quarter valued at approximately $30,000. Farther Finance Advisors LLC boosted its holdings in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock valued at $33,000 after buying an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj in the 3rd quarter valued at approximately $54,000. Asset Management One Co. Ltd. acquired a new stake in shares of Impinj in the 3rd quarter valued at approximately $138,000. Finally, USA Financial Formulas boosted its holdings in shares of Impinj by 82.0% in the 3rd quarter. USA Financial Formulas now owns 657 shares of the company's stock valued at $142,000 after buying an additional 296 shares during the last quarter.

Wall Street Analysts Forecast Growth

PI has been the topic of several analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $235.00 target price (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Cantor Fitzgerald lifted their target price on shares of Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Evercore ISI reaffirmed 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 boosted their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Finally, Needham & Company LLC boosted their price objective on shares of Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. One equities research 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. According to MarketBeat, the company currently 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.

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