Insider Selling: Impinj, Inc. (NASDAQ:PI) CRO Sells 2,666 Shares of Stock

Impinj, Inc. (NASDAQ:PI - Get Free Report) CRO Jeffrey Dossett sold 2,666 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $263,427.46. Following the completion of the transaction, the executive now directly owns 71,886 shares of the company's stock, valued at $7,103,055.66. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, January 13th, Jeffrey Dossett sold 378 shares of Impinj stock. The stock was sold at an average price of $141.05, for a total value of $53,316.90.
• On Tuesday, December 24th, Jeffrey Dossett sold 580 shares of Impinj stock. The stock was sold at an average price of $146.06, for a total value of $84,714.80.

Impinj Trading Down 2.5 %

Shares of Impinj stock traded down $2.39 during trading on Thursday, hitting $93.90. 133,457 shares of the stock were exchanged, compared to its average volume of 730,198. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 69.18 and a beta of 1.88. The company has a fifty day moving average price of $129.01 and a 200-day moving average price of $167.74. Impinj, Inc. has a 1-year low of $91.99 and a 1-year high of $239.88.

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Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly 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%. Equities research analysts forecast that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PI shares. Cantor Fitzgerald cut their price objective on Impinj from $260.00 to $133.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group lowered their price target on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. Needham & Company LLC reduced their price target on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Piper Sandler cut their price objective on shares of Impinj from $235.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. One 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, Impinj has a consensus rating of "Moderate Buy" and a consensus price target of $180.10.

Institutional Trading of Impinj

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp raised its holdings in shares of Impinj by 330.9% in the 4th quarter. Mackenzie Financial Corp now owns 6,317 shares of the company's stock worth $918,000 after acquiring an additional 4,851 shares during the last quarter. Sylebra Capital LLC raised its position 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 buying an additional 274,764 shares in the last quarter. Squarepoint Ops LLC raised its position in Impinj by 32.9% in the 4th quarter. Squarepoint Ops LLC now owns 310,743 shares of the company's stock worth $45,139,000 after purchasing an additional 76,886 shares during the period. Twinbeech Capital LP purchased a new position in Impinj in the 4th quarter worth $2,693,000. Finally, Tidal Investments LLC bought a new stake in Impinj in the 4th quarter worth $12,921,000.

Impinj Company Profile

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.