Impinj, Inc. (NASDAQ:PI) CEO Sells $823,232.52 in Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the transaction, the chief executive officer now directly owns 354,076 shares in the company, valued at $34,975,627.28. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, January 13th, Chris Ph.D. Diorio sold 841 shares of Impinj stock. The shares were sold at an average price of $141.02, for a total transaction of $118,597.82.
• 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 transaction of $219,914.88.

Impinj Stock Down 1.6 %

Shares of NASDAQ PI opened at $93.14 on Wednesday. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 68.49 and a beta of 1.88. The firm’s fifty day moving average is $131.02 and its 200 day moving average is $168.64. Impinj, Inc. has a 52 week low of $91.99 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings data 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%. Equities research analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

Several hedge funds and other institutional investors have recently modified their holdings of PI. National Bank of Canada FI bought a new stake in shares of Impinj in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC grew 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 worth $33,000 after acquiring an additional 141 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Impinj during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Impinj in the 4th quarter worth about $33,000. Finally, Jones Financial Companies Lllp boosted its stake in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after purchasing an additional 175 shares in the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on PI. The Goldman Sachs Group cut their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald cut their price objective on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Piper Sandler reduced their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Needham & Company LLC cut their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.