Impinj, Inc. (NASDAQ:PI) Insider Sells $55,805.05 in Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 565 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the sale, the insider now directly owns 7,925 shares in the company, valued at approximately $782,752.25. The trade was a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Impinj Stock Performance

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

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. On average, research analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on PI. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Susquehanna reduced their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Cantor Fitzgerald dropped their price target on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC reduced their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group decreased their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and a consensus price target of $180.10.

Hedge Funds Weigh In On Impinj

A number of large investors have recently bought and sold shares of the stock. Creative Planning grew its stake in shares of Impinj by 23.4% during the 3rd quarter. Creative Planning now owns 12,046 shares of the company’s stock valued at $2,608,000 after buying an additional 2,287 shares during the period. Raymond James & Associates raised its position in shares of Impinj by 21.7% in the 3rd quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock worth $4,969,000 after buying an additional 4,090 shares during the period. Highland Capital Management LLC acquired a new position in Impinj in the third quarter valued at $222,000. Louisiana State Employees Retirement System purchased a new stake in Impinj during the third quarter valued at about $2,382,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Impinj by 157.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company’s stock worth $2,009,000 after acquiring an additional 5,669 shares during the last quarter.

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.