Impinj, Inc. (NASDAQ:PI) Insider Cathal G. Phelan Sells 565 Shares

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 565 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the sale, the insider now owns 7,925 shares of the company’s stock, valued at approximately $782,752.25. This trade represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Impinj Price Performance

Shares of Impinj stock opened at $96.28 on Thursday. The firm has a fifty day moving average price of $129.92 and a 200 day moving average price of $168.24. Impinj, Inc. has a 1 year low of $91.99 and a 1 year high of $239.88. The stock has a market cap of $2.75 billion, a PE ratio of 70.79 and a beta of 1.88.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) 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%. As a group, equities analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp raised its holdings in shares of Impinj by 330.9% during 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 last quarter. Sylebra Capital LLC increased its holdings in Impinj by 8.6% in the fourth 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 increased its holdings in Impinj by 32.9% in the fourth quarter. Squarepoint Ops LLC now owns 310,743 shares of the company’s stock valued at $45,139,000 after buying an additional 76,886 shares in the last quarter. Twinbeech Capital LP purchased a new position in Impinj in the fourth quarter valued at $2,693,000. Finally, Tidal Investments LLC purchased a new position in Impinj in the fourth quarter valued at $12,921,000.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note 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. Susquehanna decreased their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. The Goldman Sachs Group decreased their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Finally, Cantor Fitzgerald decreased their price target on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.