Insider Selling: Impinj, Inc. (NASDAQ:PI) CRO Sells 378 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 378 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.05, for a total transaction of $53,316.90. Following the completion of the sale, the executive now owns 67,052 shares in the company, valued at approximately $9,457,684.60. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, December 24th, Jeffrey Dossett sold 580 shares of Impinj stock. The shares were sold at an average price of $146.06, for a total transaction of $84,714.80.
• On Thursday, November 14th, Jeffrey Dossett sold 7,500 shares of Impinj stock. The stock was sold at an average price of $181.17, for a total transaction of $1,358,775.00.

Impinj Stock Performance

PI stock opened at $149.31 on Wednesday. The company’s 50 day moving average price is $167.35 and its 200 day moving average price is $176.99. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 167.76 and a beta of 1.88. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same period in the prior year, the firm posted ($0.36) EPS. The company’s quarterly revenue was up 46.5% compared to the same quarter last year. Equities analysts forecast that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

PI has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. 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. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Lake Street Capital increased their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Susquehanna lifted their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Hedge Funds Weigh In On Impinj

Several large investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC lifted its holdings in Impinj by 210.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock worth $1,855,000 after buying an additional 5,807 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Impinj during the 4th quarter worth about $3,341,000. Thrivent Financial for Lutherans purchased a new stake in Impinj during the third quarter worth approximately $3,872,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Impinj during the third quarter worth approximately $846,000. Finally, Principal Financial Group Inc. boosted its holdings in Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after purchasing an additional 122,579 shares in the last quarter.

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.