Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio Sells 6,519 Shares

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 6,519 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $148.01, for a total transaction of $964,877.19. Following the sale, the chief executive officer now directly owns 289,474 shares in the company, valued at approximately $42,845,046.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, June 18th, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The stock was sold at an average price of $150.92, for a total transaction of $754,600.00.
• On Tuesday, June 11th, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The stock was sold at an average price of $146.49, for a total value of $732,450.00.
• On Friday, April 26th, Chris Ph.D. Diorio sold 26,661 shares of Impinj stock. The shares were sold at an average price of $147.02, for a total transaction of $3,919,700.22.
• On Monday, April 15th, Chris Ph.D. Diorio sold 1,244 shares of Impinj stock. The shares were sold at an average price of $118.67, for a total transaction of $147,625.48.

Impinj Trading Up 0.4 %

Shares of PI opened at $153.40 on Friday. The stock has a market capitalization of $4.25 billion, a P/E ratio of -438.29 and a beta of 1.80. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $175.41. 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 firm has a fifty day simple moving average of $156.12 and a two-hundred day simple moving average of $122.49.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.14. The company 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%. On average, research analysts anticipate that Impinj, Inc. will post 0.02 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on PI shares. Canaccord Genuity Group increased their target price on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Impinj in a report on Wednesday, June 5th. Evercore ISI assumed coverage on Impinj in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 target price for the company. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research note on Tuesday, May 21st. Finally, The Goldman Sachs Group lowered shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 target price on the stock. in a report on Monday, May 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Impinj has an average rating of “Moderate Buy” and an average target price of $154.00.

Hedge Funds Weigh In On Impinj

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in Impinj by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock worth $9,577,000 after purchasing an additional 8,038 shares in the last quarter. Rhumbline Advisers lifted its holdings in Impinj by 3.2% in the third quarter. Rhumbline Advisers now owns 32,228 shares of the company’s stock worth $1,773,000 after buying an additional 989 shares during the period. PNC Financial Services Group Inc. boosted its position in Impinj by 41.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,941 shares of the company’s stock valued at $217,000 after acquiring an additional 1,149 shares in the last quarter. Algert Global LLC purchased a new position in shares of Impinj during the 3rd quarter worth approximately $711,000. Finally, Westfield Capital Management Co. LP raised its position in shares of 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 in the last quarter.

About Impinj

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.