Impinj, Inc. (NASDAQ:PI) CEO Sells $6,946,855.74 in Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 34,474 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $201.51, for a total transaction of $6,946,855.74. Following the sale, the chief executive officer now directly owns 294,438 shares in the company, valued at approximately $59,332,201.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, October 14th, Chris Ph.D. Diorio sold 1,219 shares of Impinj stock. The shares were sold at an average price of $237.82, for a total value of $289,902.58.
• On Tuesday, September 24th, Chris Ph.D. Diorio sold 1,498 shares of Impinj stock. The stock was sold at an average price of $209.12, for a total value of $313,261.76.

Impinj Stock Performance

Shares of Impinj stock traded down $1.73 on Thursday, reaching $189.99. The stock had a trading volume of 374,171 shares, compared to its average volume of 470,737. The stock has a market cap of $5.27 billion, a P/E ratio of -541.63 and a beta of 1.80. Impinj, Inc. has a fifty-two week low of $59.64 and a fifty-two week high of $239.88. The business’s 50-day moving average price is $198.64 and its two-hundred day moving average price is $170.87.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter in the previous year, the firm earned ($0.36) EPS. The firm’s revenue was up 46.5% compared to the same quarter last year. As a group, equities analysts forecast that Impinj, Inc. will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Impinj

Several large investors have recently bought and sold shares of PI. First Bank & Trust raised its holdings in Impinj by 3.2% in the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock valued at $383,000 after acquiring an additional 55 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares in the last quarter. Hsbc Holdings PLC lifted its position in Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after purchasing an additional 190 shares during the period. Rhumbline Advisers boosted its stake in Impinj by 0.8% during the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after buying an additional 248 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in Impinj in the 3rd quarter valued at $54,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PI shares. Cantor Fitzgerald increased their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Roth Mkm boosted their target price on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Susquehanna boosted their price target on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Finally, Needham & Company LLC raised their price objective on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Impinj has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

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.