Impinj, Inc. (NASDAQ:PI) CFO Cary Baker Sells 290 Shares

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 290 shares of Impinj stock in a transaction on Monday, January 13th. The stock was sold at an average price of $140.96, for a total transaction of $40,878.40. Following the sale, the chief financial officer now directly owns 71,754 shares in the company, valued at approximately $10,114,443.84. This trade represents a 0.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, December 24th, Cary Baker sold 499 shares of Impinj stock. The stock was sold at an average price of $146.06, for a total transaction of $72,883.94.
• On Monday, October 28th, Cary Baker sold 15,000 shares of Impinj stock. The shares were sold at an average price of $204.90, for a total transaction of $3,073,500.00.

Impinj Trading Up 2.0 %

Shares of PI opened at $149.31 on Wednesday. The company’s 50-day moving average price is $167.35 and its 200 day moving average price is $176.99. Impinj, Inc. has a 12-month low of $78.17 and a 12-month high of $239.88. The firm has a market cap of $4.22 billion, a P/E ratio of 167.76 and a beta of 1.88.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Impinj by 1.5% in the third quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after buying an additional 60,461 shares in the last quarter. State Street Corp boosted its holdings in Impinj by 25.7% during the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after acquiring an additional 220,776 shares during the period. Geode Capital Management LLC grew its position in Impinj by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after acquiring an additional 7,676 shares in the last quarter. Jennison Associates LLC increased its stake in Impinj by 15.0% during the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after purchasing an additional 31,269 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Impinj by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock worth $41,840,000 after purchasing an additional 6,232 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PI. Cantor Fitzgerald boosted their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Susquehanna boosted their price objective on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 target price (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their price target on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $224.60.

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.