Impinj, Inc. (NASDAQ:PI) Insider Cathal G. Phelan Sells 565 Shares

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 565 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.77, for a total value of $55,805.05. Following the sale, the insider now owns 7,925 shares of the company’s stock, valued at approximately $782,752.25. The trade was a 6.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Impinj Trading Down 2.2 %

NASDAQ:PI opened at $94.62 on Tuesday. Impinj, Inc. has a 1 year low of $93.54 and a 1 year high of $239.88. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 69.57 and a beta of 1.88. The stock has a 50-day moving average price of $131.02 and a two-hundred day moving average price of $168.64.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Sell-side analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PI. The Goldman Sachs Group dropped their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Susquehanna dropped their target price on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Cantor Fitzgerald dropped their target price on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, Piper Sandler decreased their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Impinj presently has an average rating of “Moderate Buy” and an average price target of $180.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new stake in shares of Impinj in the fourth quarter valued at about $29,000. National Bank of Canada FI bought a new stake in shares of Impinj in the third quarter valued at about $30,000. Farther Finance Advisors LLC lifted its holdings in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Impinj in the fourth quarter valued at about $33,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after purchasing an additional 175 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.