Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells 1,553 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 1,553 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the completion of the transaction, the chief financial officer now directly owns 76,451 shares in the company, valued at $7,550,300.76. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, January 13th, Cary Baker sold 290 shares of Impinj stock. The shares were sold at an average price of $140.96, for a total value of $40,878.40.
• On Tuesday, December 24th, Cary Baker sold 499 shares of Impinj stock. The shares were sold at an average price of $146.06, for a total transaction of $72,883.94.

Impinj Trading Down 2.2 %

Shares of NASDAQ PI traded down $2.13 during midday trading on Monday, reaching $94.62. The company’s stock had a trading volume of 543,084 shares, compared to its average volume of 766,156. The stock has a 50 day simple moving average of $132.13 and a 200-day simple moving average of $169.02. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 69.57 and a beta of 1.88. Impinj, Inc. has a fifty-two week low of $93.54 and a fifty-two week high of $239.88.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a 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. Piper Sandler dropped their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group decreased their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Finally, Susquehanna lowered their target price on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.10.

Hedge Funds Weigh In On Impinj

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital International Investors increased its position in Impinj by 45.0% during the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock worth $221,897,000 after acquiring an additional 473,721 shares during the period. Janus Henderson Group PLC grew its position in shares of Impinj by 3,824.4% during the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company’s stock worth $63,310,000 after purchasing an additional 424,851 shares in the last quarter. Norges Bank bought a new position in shares of Impinj during the fourth quarter worth approximately $40,100,000. Sylebra Capital LLC raised its position in shares of Impinj by 8.6% in the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock valued at $504,360,000 after buying an additional 274,764 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after buying an additional 220,776 shares during the period.

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.