Cathal G. Phelan Sells 209 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 209 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the completion of the sale, the insider now owns 17,647 shares in the company, valued at approximately $3,690,870.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Impinj Trading Up 1.8 %

Shares of NASDAQ:PI opened at $217.83 on Friday. The stock’s 50-day moving average price is $167.65 and its 200-day moving average price is $154.27. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $220.17. The stock has a market capitalization of $6.04 billion, a P/E ratio of -622.37 and a beta of 1.78.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. During the same period last year, the firm earned ($0.14) earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, research analysts predict that Impinj, Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

PI has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $205.00 price objective on shares of Impinj in a research report on Thursday, July 25th. Susquehanna increased their target price on Impinj from $150.00 to $215.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Lake Street Capital increased their target price on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Roth Mkm increased their target price on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the first quarter worth about $32,000. SouthState Corp purchased a new stake in shares of Impinj during the second quarter worth about $94,000. nVerses Capital LLC boosted its holdings in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after purchasing an additional 521 shares during the period. Finally, Jamison Private Wealth Management Inc. boosted its holdings in shares of Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after purchasing an additional 549 shares during the period.

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.