Cary Baker Sells 15,000 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 15,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $204.90, for a total value of $3,073,500.00. Following the completion of the sale, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at approximately $14,567,570.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, October 14th, Cary Baker sold 366 shares of Impinj stock. The shares were sold at an average price of $237.83, for a total value of $87,045.78.
• On Tuesday, September 24th, Cary Baker sold 496 shares of Impinj stock. The shares were sold at an average price of $209.17, for a total value of $103,748.32.

Impinj Stock Down 4.1 %

PI opened at $191.72 on Thursday. Impinj, Inc. has a 52 week low of $59.64 and a 52 week high of $239.88. The business has a fifty day simple moving average of $198.64 and a 200-day simple moving average of $170.87. The firm has a market cap of $5.31 billion, a P/E ratio of -547.77 and a beta of 1.80.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period last year, the business posted ($0.36) earnings per share. Sell-side analysts expect that Impinj, Inc. will post 0.35 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Cantor Fitzgerald raised their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Roth Mkm raised their target price on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Susquehanna raised their target price on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Finally, Evercore ISI reissued an “outperform” rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Impinj in the first quarter valued at $513,000. TimesSquare Capital Management LLC purchased a new position in Impinj in the first quarter valued at $19,195,000. Harbor Capital Advisors Inc. boosted its holdings in Impinj by 112.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock valued at $2,122,000 after purchasing an additional 7,151 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Impinj by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after purchasing an additional 7,247 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Impinj by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after purchasing an additional 35,893 shares during the period.

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.