Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells $74,262.92 in Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 503 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $147.64, for a total transaction of $74,262.92. Following the completion of the transaction, the chief financial officer now owns 69,179 shares of the company’s stock, valued at $10,213,587.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, June 17th, Cary Baker sold 308 shares of Impinj stock. The stock was sold at an average price of $149.94, for a total transaction of $46,181.52.
• On Thursday, May 2nd, Cary Baker sold 10,000 shares of Impinj stock. The stock was sold at an average price of $159.08, for a total transaction of $1,590,800.00.
• On Monday, April 15th, Cary Baker sold 374 shares of Impinj stock. The stock was sold at an average price of $118.70, for a total transaction of $44,393.80.

Impinj Trading Up 0.4 %

Shares of PI opened at $153.40 on Friday. The firm’s 50 day moving average price is $156.12 and its 200 day moving average price is $122.49. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $175.41.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The firm had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. As a group, equities research analysts forecast that Impinj, Inc. will post 0.02 EPS for the current year.

Hedge Funds Weigh In On Impinj

A number of institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Impinj by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock valued at $462,000 after purchasing an additional 115 shares during the period. Wealth Effects LLC raised its position in shares of Impinj by 1.0% in the first quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock valued at $1,945,000 after purchasing an additional 150 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Impinj in the first quarter valued at approximately $32,000. ProShare Advisors LLC raised its position in shares of Impinj by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,194 shares of the company’s stock valued at $539,000 after purchasing an additional 330 shares during the period. Finally, Swiss National Bank raised its position in shares of Impinj by 0.9% in the first quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $5,830,000 after purchasing an additional 400 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $150.00 target price (up from $130.00) on shares of Impinj in a report on Thursday, April 25th. Susquehanna increased their price target on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research report on Tuesday, April 23rd. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price target on shares of Impinj in a research report on Wednesday, June 5th. Finally, Evercore ISI began coverage on shares of Impinj in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price target for the company. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

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.