Impinj, Inc. (NASDAQ:PI) CFO Sells $3,073,500.00 in Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 15,000 shares of Impinj stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $204.90, for a total transaction of $3,073,500.00. Following the transaction, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at approximately $14,567,570.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cary Baker also recently made the following trade(s):

• On Monday, October 14th, Cary Baker sold 366 shares of Impinj stock. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78.
• On Tuesday, September 24th, Cary Baker sold 496 shares of Impinj stock. The shares were sold at an average price of $209.17, for a total transaction of $103,748.32.

Impinj Trading Down 4.1 %

Shares of Impinj stock traded down $8.28 during mid-day trading on Wednesday, hitting $191.72. 477,074 shares of the stock were exchanged, compared to its average volume of 471,197. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of -556.31 and a beta of 1.80. Impinj, Inc. has a twelve month low of $59.64 and a twelve month high of $239.88. The company has a 50-day simple moving average of $198.10 and a 200 day simple moving average of $170.72.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same period in the prior year, the firm posted ($0.36) EPS. The company’s revenue was up 46.5% on a year-over-year basis. Equities research analysts forecast that Impinj, Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PI shares. Lake Street Capital increased their target price on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC raised their price target on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their price target on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Susquehanna lifted their target price on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Finally, Cantor Fitzgerald raised their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $224.60.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the third quarter valued at approximately $54,000. SouthState Corp purchased a new stake in shares of Impinj during the second quarter valued at approximately $94,000. nVerses Capital LLC raised its stake in shares of Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares during the period. Finally, Jamison Private Wealth Management Inc. raised its stake 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 valued at $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.