Impinj, Inc. (NASDAQ:PI) CFO Sells $153,374.28 in Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 1,553 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $98.76, for a total transaction of $153,374.28. Following the sale, the chief financial officer now directly owns 76,451 shares of the company’s stock, valued at approximately $7,550,300.76. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, January 13th, Cary Baker sold 290 shares of Impinj stock. The shares were sold at an average price of $140.96, for a total transaction of $40,878.40.
• On Tuesday, December 24th, Cary Baker sold 499 shares of Impinj stock. The stock was sold at an average price of $146.06, for a total value of $72,883.94.

Impinj Stock Down 2.2 %

NASDAQ:PI traded down $2.13 on Monday, reaching $94.62. The stock had a trading volume of 543,084 shares, compared to its average volume of 766,156. The company has a market capitalization of $2.70 billion, a P/E ratio of 69.57 and a beta of 1.88. Impinj, Inc. has a 1-year low of $93.54 and a 1-year high of $239.88. The stock has a fifty day moving average price of $132.13 and a 200-day moving average price of $169.02.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. Sell-side analysts predict that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Impinj

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its position in Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after buying an additional 60,461 shares in the last quarter. Sylebra Capital LLC raised its stake in shares of Impinj by 8.6% in the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock worth $504,360,000 after acquiring an additional 274,764 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Impinj by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock worth $500,009,000 after purchasing an additional 104,861 shares in the last quarter. Capital International Investors grew its stake in shares of Impinj by 45.0% during the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock valued at $221,897,000 after purchasing an additional 473,721 shares during the last quarter. Finally, State Street Corp raised its position in Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after purchasing an additional 220,776 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on the company. Piper Sandler dropped their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC dropped their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Susquehanna cut their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group cut their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.10.

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.