Impinj, Inc. (NASDAQ:PI) CFO Sells $1,590,800.00 in Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 10,000 shares of Impinj stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $159.08, for a total transaction of $1,590,800.00. Following the completion of the sale, the chief financial officer now directly owns 67,948 shares of the company’s stock, valued at $10,809,167.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, April 15th, Cary Baker sold 374 shares of Impinj stock. The shares were sold at an average price of $118.70, for a total transaction of $44,393.80.
• On Monday, March 25th, Cary Baker sold 1,062 shares of Impinj stock. The shares were sold at an average price of $127.61, for a total transaction of $135,521.82.
• On Monday, March 18th, Cary Baker sold 306 shares of Impinj stock. The shares were sold at an average price of $123.55, for a total transaction of $37,806.30.
• On Friday, February 23rd, Cary Baker sold 4,829 shares of Impinj stock. The shares were sold at an average price of $101.17, for a total transaction of $488,549.93.
• On Monday, February 26th, Cary Baker sold 1,455 shares of Impinj stock. The shares were sold at an average price of $103.68, for a total transaction of $150,854.40.
• On Wednesday, February 14th, Cary Baker sold 20,000 shares of Impinj stock. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00.

Impinj Stock Up 0.9 %

Impinj stock opened at $161.23 on Monday. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $163.45. The stock has a market cap of $4.47 billion, a PE ratio of -460.66 and a beta of 1.85. The firm’s 50-day simple moving average is $124.94 and its 200 day simple moving average is $99.28. The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.14. The business had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. Research analysts predict that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PI. Asset Management One Co. Ltd. boosted its stake in Impinj by 74.6% in the third quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock valued at $67,000 after acquiring an additional 524 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Impinj by 109.8% in the third quarter. Commonwealth Equity Services LLC now owns 4,730 shares of the company’s stock valued at $260,000 after purchasing an additional 2,476 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Impinj by 13.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 26,579 shares of the company’s stock valued at $1,463,000 after purchasing an additional 3,098 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Impinj by 75.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,468 shares of the company’s stock valued at $81,000 after purchasing an additional 629 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Impinj by 17.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the company’s stock valued at $276,000 after purchasing an additional 748 shares during the period.

Analyst Ratings Changes

PI has been the subject of several recent research reports. Canaccord Genuity Group boosted their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Evercore ISI initiated coverage on shares of Impinj in a research report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 target price for the company. Piper Sandler reissued an “overweight” rating and set a $150.00 target price (up from $130.00) on shares of Impinj in a research report on Thursday, April 25th. Roth Mkm boosted their target price on shares of Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Needham & Company LLC boosted their target price on shares of Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Impinj presently has an average rating of “Moderate Buy” and a consensus target price of $132.89.

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.