Cary Baker Sells 499 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 499 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $72,883.94. Following the completion of the transaction, the chief financial officer now directly owns 71,107 shares in the company, valued at $10,385,888.42. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, October 28th, Cary Baker sold 15,000 shares of Impinj stock. The stock was sold at an average price of $204.90, for a total transaction of $3,073,500.00.
• 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 transaction of $87,045.78.

Impinj Stock Down 0.7 %

Shares of Impinj stock traded down $0.98 on Thursday, hitting $147.78. 309,536 shares of the company were exchanged, compared to its average volume of 482,156. The company has a 50-day moving average price of $183.64 and a 200 day moving average price of $177.04. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 166.04 and a beta of 1.80. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PI shares. The Goldman Sachs Group upped their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Cantor Fitzgerald boosted their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Susquehanna boosted their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $224.60.

Institutional Investors Weigh In On Impinj

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James & Associates grew its holdings in shares of Impinj by 30.2% during the 2nd quarter. Raymond James & Associates now owns 18,861 shares of the company’s stock worth $2,957,000 after purchasing an additional 4,373 shares during the period. Bank of New York Mellon Corp increased its position in shares of Impinj by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 121,159 shares of the company’s stock valued at $18,994,000 after acquiring an additional 7,496 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Impinj by 79.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 66,361 shares of the company’s stock valued at $10,403,000 after acquiring an additional 29,299 shares during the period. Azzad Asset Management Inc. ADV acquired a new position in shares of Impinj in the 2nd quarter worth approximately $275,000. Finally, nVerses Capital LLC lifted its holdings in shares of Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after acquiring an additional 300 shares during 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.