Insider Selling: Impinj, Inc. (NASDAQ:PI) CEO Sells 2,953 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 2,953 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $127.19, for a total transaction of $375,592.07. Following the completion of the transaction, the chief executive officer now owns 284,349 shares of the company’s stock, valued at $36,166,349.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, March 18th, Chris Ph.D. Diorio sold 612 shares of Impinj stock. The stock was sold at an average price of $123.56, for a total transaction of $75,618.72.
• On Monday, February 26th, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The stock was sold at an average price of $105.00, for a total transaction of $525,000.00.
• On Friday, February 23rd, Chris Ph.D. Diorio sold 16,060 shares of Impinj stock. The stock was sold at an average price of $101.16, for a total transaction of $1,624,629.60.
• On Tuesday, January 16th, Chris Ph.D. Diorio sold 855 shares of Impinj stock. The shares were sold at an average price of $81.16, for a total transaction of $69,391.80.

Impinj Trading Down 1.1 %

Shares of NASDAQ:PI traded down $1.40 during mid-day trading on Tuesday, reaching $126.59. The stock had a trading volume of 234,217 shares, compared to its average volume of 409,729. The firm has a market cap of $3.44 billion, a PE ratio of -78.14 and a beta of 2.04. The firm has a 50 day simple moving average of $108.49 and a two-hundred day simple moving average of $84.44. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $142.70.

Impinj (NASDAQ:PI) last posted its earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The business had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $67.10 million. On average, research analysts predict that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Analyst Ratings Changes

PI has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Susquehanna upped their target price on shares of Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a report on Friday, February 9th. Canaccord Genuity Group upped their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Needham & Company LLC increased their price objective on shares of Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, StockNews.com raised shares of Impinj to a “sell” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, Impinj has an average rating of “Hold” and a consensus price target of $114.38.

Institutional Trading of Impinj

A number of large investors have recently bought and sold shares of PI. Sylebra Capital LLC bought a new position in shares of Impinj during the 3rd quarter worth approximately $217,290,000. Capital International Investors bought a new position in shares of Impinj during the 4th quarter worth approximately $68,211,000. Fred Alger Management LLC grew its stake in shares of Impinj by 249.6% during the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock worth $43,802,000 after acquiring an additional 568,301 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Impinj by 40.1% during 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. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Impinj by 153.3% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 482,700 shares of the company’s stock worth $43,274,000 after acquiring an additional 292,158 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.