Impinj, Inc. (NASDAQ:PI) Insider Sells $55,805.05 in Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 565 shares of Impinj stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.77, for a total transaction of $55,805.05. Following the transaction, the insider now owns 7,925 shares in the company, valued at $782,752.25. The trade was a 6.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Impinj Price Performance

Shares of NASDAQ:PI traded down $2.13 during midday trading on Monday, reaching $94.62. The company had a trading volume of 543,084 shares, compared to its average volume of 766,156. Impinj, Inc. has a one year low of $93.54 and a one year high of $239.88. The stock has a market capitalization of $2.70 billion, a P/E ratio of 69.57 and a beta of 1.88. The stock’s fifty day moving average price is $132.13 and its 200-day moving average price is $169.02.

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

Institutional Trading of Impinj

Several institutional investors and hedge funds have recently bought and sold shares of PI. Hillsdale Investment Management Inc. increased its holdings in shares of Impinj by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock valued at $3,586,000 after acquiring an additional 95 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Impinj by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock worth $1,612,000 after purchasing an additional 100 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Impinj by 6.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company’s stock worth $238,000 after purchasing an additional 106 shares during the period. National Bank of Canada FI bought a new stake in Impinj during the third quarter valued at $30,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares during the period.

Wall Street Analyst Weigh In

PI has been the topic of several research reports. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Cantor Fitzgerald dropped their target price on Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Susquehanna decreased their price target on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Needham & Company LLC lowered their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Piper Sandler reduced their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.10.

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.