Insider Selling: Impinj, Inc. (NASDAQ:PI) CRO Sells 7,500 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 7,500 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00. Following the completion of the sale, the executive now directly owns 65,294 shares of the company’s stock, valued at $11,829,313.98. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, October 14th, Jeffrey Dossett sold 488 shares of Impinj stock. The shares were sold at an average price of $237.84, for a total value of $116,065.92.
• On Tuesday, September 24th, Jeffrey Dossett sold 577 shares of Impinj stock. The stock was sold at an average price of $209.20, for a total value of $120,708.40.

Impinj Stock Performance

Impinj stock traded down $3.03 during midday trading on Thursday, reaching $182.73. 451,911 shares of the company’s stock were exchanged, compared to its average volume of 473,672. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 202.19 and a beta of 1.81. The stock’s 50-day simple moving average is $204.99 and its 200 day simple moving average is $175.70.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The business 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%. The company’s revenue was up 46.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.36) earnings per share. Research analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Trading of Impinj

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in Impinj by 1.5% in the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after acquiring an additional 60,461 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Impinj by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after purchasing an additional 35,893 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Impinj during the 2nd quarter worth approximately $103,252,000. Janus Henderson Group PLC grew its stake in Impinj by 0.6% in the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after buying an additional 2,681 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Impinj by 15.0% in the 3rd quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock valued at $51,779,000 after buying an additional 31,269 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on PI shares. Lake Street Capital increased their price objective on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Piper Sandler restated 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. Roth Mkm lifted their target price on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Susquehanna lifted their target price on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $224.60.

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.