Impinj, Inc. (NASDAQ:PI) CRO Sells $84,714.80 in Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 580 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $84,714.80. Following the transaction, the executive now directly owns 66,180 shares in the company, valued at approximately $9,666,250.80. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, November 14th, Jeffrey Dossett sold 7,500 shares of Impinj stock. The stock was sold at an average price of $181.17, for a total transaction of $1,358,775.00.
• 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 transaction of $116,065.92.

Impinj Trading Down 0.7 %

Shares of PI traded down $0.98 during mid-day trading on Thursday, reaching $147.78. The company’s stock had a trading volume of 309,536 shares, compared to its average volume of 482,156. The stock has a market cap of $4.18 billion, a P/E ratio of 166.04 and a beta of 1.80. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88. The business has a 50-day simple moving average of $183.64 and a two-hundred day simple moving average of $177.04.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company’s quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.36) earnings per share. Research analysts anticipate that Impinj, Inc. will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PI shares. Evercore ISI restated an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Cantor Fitzgerald increased their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Lake Street Capital upped their target price on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group raised their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued 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 $224.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC grew its stake 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 acquiring an additional 5,807 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of Impinj in the 3rd quarter worth $3,872,000. Teachers Retirement System of The State of Kentucky purchased a new position in Impinj in the third quarter worth $846,000. Principal Financial Group Inc. boosted its position in Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after buying an additional 122,579 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Impinj in the third quarter worth about $1,437,000.

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.