Cary Baker Sells 503 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 503 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $147.64, for a total transaction of $74,262.92. Following the completion of the transaction, the chief financial officer now directly owns 69,179 shares in the company, valued at approximately $10,213,587.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, June 17th, Cary Baker sold 308 shares of Impinj stock. The stock was sold at an average price of $149.94, for a total value of $46,181.52.
• On Thursday, May 2nd, Cary Baker sold 10,000 shares of Impinj stock. The shares were sold at an average price of $159.08, for a total value of $1,590,800.00.
• On Monday, April 15th, Cary Baker sold 374 shares of Impinj stock. The shares were sold at an average price of $118.70, for a total value of $44,393.80.

Impinj Stock Performance

Impinj stock traded up $2.51 during trading on Tuesday, hitting $150.96. The stock had a trading volume of 290,009 shares, compared to its average volume of 435,893. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. The stock’s 50 day moving average is $154.24 and its two-hundred day moving average is $121.58. Impinj, Inc. has a 1 year low of $48.39 and a 1 year high of $175.41. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of -431.31 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. The firm had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. As a group, analysts predict that Impinj, Inc. will post 0.02 EPS for the current year.

Hedge Funds Weigh In On Impinj

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Impinj by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock worth $9,577,000 after acquiring an additional 8,038 shares during the period. Rhumbline Advisers increased its position in shares of Impinj by 3.2% during the third quarter. Rhumbline Advisers now owns 32,228 shares of the company’s stock valued at $1,773,000 after buying an additional 989 shares during the period. PNC Financial Services Group Inc. boosted its stake in Impinj by 41.2% during the third quarter. PNC Financial Services Group Inc. now owns 3,941 shares of the company’s stock valued at $217,000 after buying an additional 1,149 shares during the period. Algert Global LLC purchased a new position in Impinj during the third quarter worth about $711,000. Finally, Westfield Capital Management Co. LP increased its stake in Impinj by 40.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock worth $56,260,000 after acquiring an additional 292,470 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Impinj in a research note on Wednesday, June 5th. Jefferies Financial Group assumed coverage on shares of Impinj in a research report on Monday, May 13th. They issued a “buy” rating and a $200.00 price objective for the company. Canaccord Genuity Group lifted their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Piper Sandler restated an “overweight” rating and issued a $150.00 target price (up previously from $130.00) on shares of Impinj in a research note on Thursday, April 25th. Finally, Susquehanna increased their price target on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $143.10.

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.