Impinj, Inc. (NASDAQ:PI) CEO Sells $118,597.82 in Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 841 shares of Impinj stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $141.02, for a total value of $118,597.82. Following the transaction, the chief executive officer now directly owns 333,856 shares in the company, valued at approximately $47,080,373.12. The trade was a 0.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Chris Ph.D. Diorio also recently made the following trade(s):

• On Tuesday, December 24th, Chris Ph.D. Diorio sold 1,504 shares of Impinj stock. The stock was sold at an average price of $146.22, for a total transaction of $219,914.88.
• On Tuesday, October 29th, Chris Ph.D. Diorio sold 34,474 shares of Impinj stock. The shares were sold at an average price of $201.51, for a total transaction of $6,946,855.74.

Impinj Stock Performance

Shares of PI opened at $132.51 on Friday. Impinj, Inc. has a fifty-two week low of $87.15 and a fifty-two week high of $239.88. The business has a 50-day moving average of $164.71 and a 200 day moving average of $176.40. The firm has a market cap of $3.75 billion, a P/E ratio of 148.89 and a beta of 1.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The company 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.36) earnings per share. As a group, research analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on PI. The Goldman Sachs Group boosted their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Cantor Fitzgerald lifted their price target on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Susquehanna boosted their price objective on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Finally, StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Institutional Investors Weigh In On Impinj

Several institutional investors have recently made changes to their positions in PI. State Street Corp grew its position in shares of Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after purchasing an additional 220,776 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Impinj during the 2nd quarter valued at about $30,116,000. Principal Financial Group Inc. increased its position in shares of Impinj by 4,013.7% during 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 period. Wellington Management Group LLP purchased a new stake in shares of Impinj in the third quarter worth about $24,771,000. Finally, AXA S.A. bought a new position in shares of Impinj in the second quarter valued at approximately $11,574,000.

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.