Insider Selling: Impinj, Inc. (NASDAQ:PI) CRO Sells 378 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 378 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $141.05, for a total value of $53,316.90. Following the completion of the transaction, the executive now owns 67,052 shares of the company’s stock, valued at approximately $9,457,684.60. This represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Jeffrey Dossett also recently made the following trade(s):

• 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 transaction of $84,714.80.
• On Thursday, November 14th, Jeffrey Dossett sold 7,500 shares of Impinj stock. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00.

Impinj Stock Performance

Shares of PI stock traded up $2.99 on Tuesday, hitting $149.31. The company had a trading volume of 473,899 shares, compared to its average volume of 410,137. The stock’s 50-day moving average is $168.32 and its two-hundred day moving average is $177.04. Impinj, Inc. has a twelve month low of $78.17 and a twelve month high of $239.88. The firm has a market cap of $4.22 billion, a P/E ratio of 167.76 and a beta of 1.88.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating 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 company had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same quarter in the previous year, the business posted ($0.36) EPS. Impinj’s revenue for the quarter was up 46.5% compared to the same quarter last year. Equities research analysts predict that Impinj, Inc. will post 0.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PI. FMR LLC raised its position in shares of Impinj by 1.5% in the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after acquiring an additional 60,461 shares in the last quarter. State Street Corp grew its position in shares of Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after buying an additional 220,776 shares during the period. Geode Capital Management LLC lifted its position in Impinj by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after acquiring an additional 7,676 shares during the period. Jennison Associates LLC boosted its stake in Impinj by 15.0% during the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after acquiring an additional 31,269 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Impinj by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock worth $41,840,000 after purchasing an additional 6,232 shares during the period.

Analyst Ratings Changes

A number of research analysts recently weighed in on PI shares. Needham & Company LLC boosted their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI reissued an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Susquehanna increased their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. Finally, Lake Street Capital boosted their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $224.60.

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.