Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells $44,393.80 in Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 374 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $118.70, for a total transaction of $44,393.80. Following the sale, the chief financial officer now owns 67,948 shares in the company, valued at $8,065,427.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, March 25th, Cary Baker sold 1,062 shares of Impinj stock. The shares were sold at an average price of $127.61, for a total transaction of $135,521.82.
• On Monday, March 18th, Cary Baker sold 306 shares of Impinj stock. The shares were sold at an average price of $123.55, for a total transaction of $37,806.30.
• On Friday, February 23rd, Cary Baker sold 4,829 shares of Impinj stock. The shares were sold at an average price of $101.17, for a total transaction of $488,549.93.
• On Monday, February 26th, Cary Baker sold 1,455 shares of Impinj stock. The shares were sold at an average price of $103.68, for a total transaction of $150,854.40.
• On Wednesday, February 14th, Cary Baker sold 20,000 shares of Impinj stock. The shares were sold at an average price of $102.14, for a total transaction of $2,042,800.00.

Impinj Stock Performance

Impinj stock opened at $116.32 on Friday. The company’s 50-day moving average price is $116.30 and its 200-day moving average price is $92.16. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $141.68. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26. The company has a market cap of $3.22 billion, a PE ratio of -71.80 and a beta of 2.05.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The firm had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $67.10 million. On average, equities research analysts forecast that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Impinj

Several large investors have recently added to or reduced their stakes in the stock. Sylebra Capital LLC boosted its position in Impinj by 6.3% in the 4th quarter. Sylebra Capital LLC now owns 4,197,352 shares of the company’s stock valued at $377,888,000 after buying an additional 248,786 shares during the period. FMR LLC boosted its position in Impinj by 0.8% in the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after buying an additional 31,289 shares during the period. Sylebra Capital Ltd boosted its position in Impinj by 4.1% in the 1st quarter. Sylebra Capital Ltd now owns 2,848,085 shares of the company’s stock valued at $385,972,000 after buying an additional 111,697 shares during the period. BlackRock Inc. boosted its position in Impinj by 1.5% in the 1st quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock valued at $89,758,000 after buying an additional 20,404 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Impinj by 13.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,251,084 shares of the company’s stock valued at $100,124,000 after purchasing an additional 153,039 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, March 14th. StockNews.com upgraded shares of Impinj to a “sell” rating in a report on Friday, February 9th. Roth Mkm lifted their price target on shares of Impinj from $115.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, March 14th. The Goldman Sachs Group lifted their price target on shares of Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Evercore ISI began coverage on shares of Impinj in a report on Tuesday. They issued an “outperform” rating and a $160.00 target price on the stock. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Impinj presently has an average rating of “Moderate Buy” and an average target price of $119.44.

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.