Impinj, Inc. (NASDAQ:PI) CRO Sells $263,427.46 in Stock

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

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 transaction 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 Price Performance

NASDAQ:PI opened at $94.62 on Tuesday. Impinj, Inc. has a one year low of $93.54 and a one year high of $239.88. The business has a fifty day moving average price of $131.02 and a 200-day moving average price of $168.64. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 69.57 and a beta of 1.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, equities research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Impinj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its position in shares of Impinj by 330.9% in the fourth quarter. Mackenzie Financial Corp now owns 6,317 shares of the company’s stock worth $918,000 after purchasing an additional 4,851 shares during the period. Sylebra Capital LLC lifted its stake in shares of Impinj by 8.6% during the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock valued at $504,360,000 after buying an additional 274,764 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Impinj by 32.9% in the 4th quarter. Squarepoint Ops LLC now owns 310,743 shares of the company’s stock worth $45,139,000 after buying an additional 76,886 shares during the period. Twinbeech Capital LP purchased a new stake in Impinj in the 4th quarter worth $2,693,000. Finally, Tidal Investments LLC bought a new stake in Impinj during the fourth quarter valued at about $12,921,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PI shares. The Goldman Sachs Group decreased their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Piper Sandler lowered their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald dropped their price target on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Finally, Needham & Company LLC dropped their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $180.10.

Impinj Company Profile

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.