Insider Selling: Impinj, Inc. (NASDAQ:PI) CRO Sells $1,358,775.00 in Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 7,500 shares of Impinj stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the transaction, the executive now directly owns 65,294 shares in the company, valued at approximately $11,829,313.98. This represents a 10.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Jeffrey Dossett also recently made the following trade(s):

• On Monday, October 14th, Jeffrey Dossett sold 488 shares of Impinj stock. The shares were sold at an average price of $237.84, for a total value of $116,065.92.
• On Tuesday, September 24th, Jeffrey Dossett sold 577 shares of Impinj stock. The stock was sold at an average price of $209.20, for a total value of $120,708.40.

Impinj Trading Down 3.4 %

Impinj stock opened at $176.51 on Friday. The firm has a 50 day simple moving average of $205.73 and a 200 day simple moving average of $175.88. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 198.33 and a beta of 1.81.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.36) earnings per share. On average, equities research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Lake Street Capital lifted their target price on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Susquehanna lifted their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Roth Mkm increased their target price on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. The Goldman Sachs Group raised their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC upped their price objective on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $224.60.

Institutional Investors Weigh In On Impinj

Several hedge funds and other institutional investors have recently modified their holdings of PI. Los Angeles Capital Management LLC increased its holdings in shares of Impinj by 210.2% in the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock worth $1,855,000 after purchasing an additional 5,807 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Impinj in the 1st quarter valued at about $513,000. Principal Financial Group Inc. boosted its position in shares of Impinj by 4,013.7% during the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after acquiring an additional 122,579 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Impinj by 112.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock valued at $2,122,000 after acquiring an additional 7,151 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Impinj by 21.7% during the third quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock worth $4,969,000 after purchasing an additional 4,090 shares in 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.