Insider Selling: Impinj, Inc. (NASDAQ:PI) CEO Sells $770,150.00 in Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction on Monday, July 1st. The stock was sold at an average price of $154.03, for a total value of $770,150.00. Following the completion of the sale, the chief executive officer now directly owns 289,474 shares of the company’s stock, valued at approximately $44,587,680.22. The sale was disclosed in a legal filing 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, June 24th, Chris Ph.D. Diorio sold 6,519 shares of Impinj stock. The shares were sold at an average price of $148.01, for a total value of $964,877.19.
• On Tuesday, June 18th, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The shares were sold at an average price of $150.92, for a total value of $754,600.00.
• On Tuesday, June 11th, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The shares were sold at an average price of $146.49, for a total value of $732,450.00.
• On Friday, April 26th, Chris Ph.D. Diorio sold 26,661 shares of Impinj stock. The shares were sold at an average price of $147.02, for a total value of $3,919,700.22.
• On Monday, April 15th, Chris Ph.D. Diorio sold 1,244 shares of Impinj stock. The shares were sold at an average price of $118.67, for a total value of $147,625.48.

Impinj Trading Up 0.7 %

PI opened at $159.87 on Friday. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of -456.77 and a beta of 1.78. The stock’s 50 day moving average price is $159.19 and its 200-day moving average price is $125.01. Impinj, Inc. has a one year low of $48.39 and a one year high of $175.41. 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 announced its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The company had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. On average, equities analysts forecast that Impinj, Inc. will post 0.02 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Impinj by 3.2% during the 3rd quarter. Rhumbline Advisers now owns 32,228 shares of the company’s stock valued at $1,773,000 after purchasing an additional 989 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Impinj by 41.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,941 shares of the company’s stock valued at $217,000 after purchasing an additional 1,149 shares during the last quarter. KADENSA CAPITAL Ltd lifted its holdings in shares of Impinj by 13.8% during the 3rd quarter. KADENSA CAPITAL Ltd now owns 33,324 shares of the company’s stock valued at $1,834,000 after purchasing an additional 4,049 shares during the last quarter. Scopia Capital Management LP purchased a new stake in shares of Impinj during the 3rd quarter valued at $878,000. Finally, Comerica Bank lifted its holdings in shares of Impinj by 2,591.4% during the 3rd quarter. Comerica Bank now owns 118,071 shares of the company’s stock valued at $6,497,000 after purchasing an additional 113,684 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Evercore ISI assumed coverage on Impinj in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price objective on the stock. Jefferies Financial Group assumed coverage on Impinj in a research report on Monday, May 13th. They issued a “buy” rating and a $200.00 price objective on the stock. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Piper Sandler reiterated an “overweight” rating and issued a $150.00 target price (up from $130.00) on shares of Impinj in a research report on Thursday, April 25th. Finally, Canaccord Genuity Group boosted their target price on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. 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’s stock. According to MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average target price of $154.00.

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.