Impinj, Inc. (NASDAQ:PI) CFO Cary Baker Sells 496 Shares

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 496 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total transaction of $103,748.32. Following the transaction, the chief financial officer now owns 70,524 shares of the company’s stock, valued at approximately $14,751,505.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, July 15th, Cary Baker sold 356 shares of Impinj stock. The stock was sold at an average price of $175.42, for a total transaction of $62,449.52.

Impinj Stock Up 1.8 %

Shares of NASDAQ:PI opened at $217.83 on Friday. The business has a 50-day moving average price of $167.65 and a 200-day moving average price of $154.27. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -622.37 and a beta of 1.78. Impinj, Inc. has a 52-week low of $48.39 and a 52-week high of $220.17.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. During the same period in the previous year, the business posted ($0.14) EPS. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. As a group, equities analysts anticipate that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on PI shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $205.00 price objective on shares of Impinj in a research report on Thursday, July 25th. Lake Street Capital increased their price target on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Piper Sandler boosted their price target on Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Needham & Company LLC restated a “buy” rating and set a $195.00 price objective on shares of Impinj in a report on Thursday, July 25th. Finally, Susquehanna increased their price objective on shares of Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.10.

Institutional Investors Weigh In On Impinj

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PI. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj in the first quarter worth about $32,000. SouthState Corp purchased a new position in Impinj during the second quarter valued at approximately $94,000. nVerses Capital LLC lifted its holdings in Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after acquiring an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Impinj by 117.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after purchasing an additional 521 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its position in Impinj by 211.2% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after purchasing an additional 549 shares in the last quarter.

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.