Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells $103,748.32 in Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 496 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the sale, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, July 15th, Cary Baker sold 356 shares of Impinj stock. The stock was sold at an average price of $175.42, for a total value of $62,449.52.

Impinj Stock Down 2.1 %

NASDAQ:PI opened at $213.31 on Friday. Impinj, Inc. has a 52 week low of $48.39 and a 52 week high of $220.17. The stock’s fifty day moving average is $168.51 and its two-hundred day moving average is $154.71. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of -609.46 and a beta of 1.78.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. The firm had revenue of $102.50 million for the quarter, compared to analyst estimates of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. Impinj’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) EPS. On average, sell-side analysts expect that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj in the first quarter valued at $32,000. SouthState Corp purchased a new stake in Impinj during the 2nd quarter worth about $94,000. nVerses Capital LLC raised its position in Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its stake in shares of Impinj by 211.2% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after buying an additional 549 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after buying an additional 521 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PI shares. Piper Sandler reaffirmed an “overweight” rating and issued a $225.00 target price (up from $180.00) on shares of Impinj in a research note on Friday. Susquehanna lifted their target price on shares of Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Roth Mkm increased their price target on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Impinj in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

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.