Impinj, Inc. (NASDAQ:PI) CEO Sells $118,597.82 in Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 841 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.02, for a total value of $118,597.82. Following the sale, the chief executive officer now directly owns 333,856 shares in the company, valued at approximately $47,080,373.12. This represents a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Chris Ph.D. Diorio also recently made the following trade(s):

• On Tuesday, December 24th, Chris Ph.D. Diorio sold 1,504 shares of Impinj stock. The stock was sold at an average price of $146.22, for a total value of $219,914.88.
• On Tuesday, October 29th, Chris Ph.D. Diorio sold 34,474 shares of Impinj stock. The stock was sold at an average price of $201.51, for a total value of $6,946,855.74.

Impinj Stock Performance

Impinj stock opened at $136.52 on Thursday. The company has a 50 day moving average price of $166.12 and a 200-day moving average price of $176.71. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The company has a market capitalization of $3.86 billion, a PE ratio of 153.39 and a beta of 1.88.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. 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. Lake Street Capital boosted their target price on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Susquehanna boosted their target price on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Hedge Funds Weigh In On Impinj

Large investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC raised its stake in Impinj by 210.2% in the third 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 in the last quarter. Nordea Investment Management AB acquired a new position in shares of Impinj during the fourth quarter worth $3,341,000. Thrivent Financial for Lutherans acquired a new position in shares of Impinj during the third quarter worth $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Impinj during the third quarter worth $846,000. Finally, Principal Financial Group Inc. increased its position in shares of Impinj by 4,013.7% during the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after purchasing an additional 122,579 shares in the last quarter.

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.