Impinj, Inc. (NASDAQ:PI) CRO Sells $2,367,150.00 in Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the completion of the sale, the executive now owns 63,642 shares of the company’s stock, valued at approximately $10,043,344.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, July 15th, Jeffrey Dossett sold 475 shares of Impinj stock. The stock was sold at an average price of $175.38, for a total value of $83,305.50.
• On Monday, June 24th, Jeffrey Dossett sold 584 shares of Impinj stock. The stock was sold at an average price of $147.58, for a total value of $86,186.72.
• On Monday, June 17th, Jeffrey Dossett sold 739 shares of Impinj stock. The shares were sold at an average price of $149.88, for a total value of $110,761.32.

Impinj Stock Down 3.6 %

NASDAQ:PI opened at $139.34 on Monday. The company has a market capitalization of $3.92 billion, a PE ratio of -398.11 and a beta of 1.78. Impinj, Inc. has a 52-week low of $48.39 and a 52-week high of $181.88. The stock has a fifty day simple moving average of $159.04 and a 200-day simple moving average of $137.09.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, equities analysts anticipate that Impinj, Inc. will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Impinj

A number of large investors have recently bought and sold shares of PI. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj in the first quarter valued at approximately $32,000. GAMMA Investing LLC purchased a new position in shares of Impinj during the 4th quarter worth $40,000. SouthState Corp acquired a new stake in shares of Impinj during the second quarter worth $94,000. Headlands Technologies LLC purchased a new stake in shares of Impinj in the fourth quarter valued at $58,000. Finally, nVerses Capital LLC increased its stake in Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PI shares. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Lake Street Capital increased their target price on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Evercore ISI lifted their price target on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. The Goldman Sachs Group cut Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price objective for the company. in a research report on Monday, May 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $195.00 target price on shares of Impinj in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.10.

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.