Cathal G. Phelan Sells 209 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 209 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the completion of the transaction, the insider now owns 17,647 shares of the company’s stock, valued at approximately $3,690,870.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Impinj Trading Down 2.1 %

Shares of NASDAQ PI opened at $213.31 on Friday. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of -609.46 and a beta of 1.78. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $220.17. The stock’s 50-day moving average is $168.51 and its 200 day moving average is $154.71.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. Impinj’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) EPS. On average, analysts forecast that Impinj, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

PI has been the subject of several analyst reports. Susquehanna raised their target price on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $205.00 price target on shares of Impinj in a research report on Thursday, July 25th. Piper Sandler reiterated an “overweight” rating and set a $225.00 price target (up previously from $180.00) on shares of Impinj in a research report on Friday. Lake Street Capital lifted their price target on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target on shares of Impinj in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Hedge Funds Weigh In On Impinj

A number of large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC increased its stake in Impinj by 7.3% in the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after purchasing an additional 190 shares during the period. Rhumbline Advisers increased its stake in Impinj by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after purchasing an additional 248 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Impinj in the 1st quarter worth approximately $32,000. Arizona State Retirement System increased its stake in Impinj by 4.1% in the 2nd quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock worth $1,032,000 after purchasing an additional 261 shares during the period. Finally, nVerses Capital LLC increased its stake in Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares during the period.

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.