Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett Sells 2,666 Shares

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 2,666 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $263,427.46. Following the completion of the sale, the executive now directly owns 71,886 shares of the company’s stock, valued at approximately $7,103,055.66. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, January 13th, Jeffrey Dossett sold 378 shares of Impinj stock. The stock was sold at an average price of $141.05, for a total value of $53,316.90.
• On Tuesday, December 24th, Jeffrey Dossett sold 580 shares of Impinj stock. The shares were sold at an average price of $146.06, for a total value of $84,714.80.

Impinj Stock Performance

PI stock opened at $94.62 on Tuesday. Impinj, Inc. has a fifty-two week low of $93.54 and a fifty-two week high of $239.88. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 69.57 and a beta of 1.88. The business’s 50 day moving average price is $131.02 and its two-hundred day moving average price is $168.64.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share 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 forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Creative Planning boosted its stake in Impinj by 23.4% during the third quarter. Creative Planning now owns 12,046 shares of the company’s stock worth $2,608,000 after acquiring an additional 2,287 shares in the last quarter. Raymond James & Associates lifted 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 valued at $4,969,000 after purchasing an additional 4,090 shares during the last quarter. Highland Capital Management LLC bought a new stake in shares of Impinj in the 3rd quarter worth approximately $222,000. Louisiana State Employees Retirement System bought a new stake in shares of Impinj in the 3rd quarter worth approximately $2,382,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Impinj by 157.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company’s stock worth $2,009,000 after buying an additional 5,669 shares during the last quarter.

Wall Street Analysts Forecast Growth

PI has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. The Goldman Sachs Group lowered their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Susquehanna cut 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 lowered 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. Finally, Piper Sandler cut their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.10.

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.