Insider Selling: Impinj, Inc. (NASDAQ:PI) CRO Sells $84,714.80 in Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 580 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $84,714.80. Following the completion of the transaction, the executive now owns 66,180 shares of the company’s stock, valued at $9,666,250.80. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Jeffrey Dossett also recently made the following trade(s):

• On Thursday, November 14th, Jeffrey Dossett sold 7,500 shares of Impinj stock. The shares were sold at an average price of $181.17, for a total value of $1,358,775.00.
• On Monday, October 14th, Jeffrey Dossett sold 488 shares of Impinj stock. The stock was sold at an average price of $237.84, for a total transaction of $116,065.92.

Impinj Stock Performance

Impinj stock opened at $147.85 on Friday. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 166.12 and a beta of 1.80. Impinj, Inc. has a 52-week low of $78.17 and a 52-week high of $239.88. The stock’s 50 day moving average price is $180.59 and its two-hundred day moving average price is $177.03.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same period in the prior year, the firm earned ($0.36) earnings per share. Impinj’s revenue was up 46.5% on a year-over-year basis. On average, equities research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Susquehanna lifted their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Evercore ISI reissued an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Cantor Fitzgerald increased their target price on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Institutional Trading of Impinj

Several large investors have recently made changes to their positions in PI. National Bank of Canada FI bought a new position in shares of Impinj in the 3rd quarter worth $30,000. Farther Finance Advisors LLC raised its holdings in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after buying an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Impinj in the third quarter valued at $54,000. SouthState Corp acquired a new position in shares of Impinj during the second quarter valued at about $94,000. Finally, nVerses Capital LLC grew its holdings in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares during 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.