Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio Sells 841 Shares

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 841 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $141.02, for a total transaction of $118,597.82. Following the completion of the sale, the chief executive officer now owns 333,856 shares of the company’s stock, valued at $47,080,373.12. The trade was a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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 stock was sold at an average price of $201.51, for a total transaction of $6,946,855.74.

Impinj Stock Performance

Shares of PI stock opened at $149.31 on Wednesday. Impinj, Inc. has a 52-week low of $78.17 and a 52-week high of $239.88. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 167.76 and a beta of 1.88. The firm has a fifty day moving average of $167.35 and a 200-day moving average of $176.99.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $92.86 million. During the same quarter in the prior year, the company posted ($0.36) EPS. The business’s revenue was up 46.5% on a year-over-year basis. On average, sell-side analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On Impinj

Large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC grew its holdings in shares of Impinj by 210.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock worth $1,855,000 after purchasing an additional 5,807 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Impinj in the 4th quarter worth about $3,341,000. Thrivent Financial for Lutherans bought a new stake in shares of Impinj in the 3rd quarter worth about $3,872,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Impinj in the 3rd quarter worth about $846,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after purchasing an additional 122,579 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Lake Street Capital boosted their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Needham & Company LLC upped their target price on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group upped their target price on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Evercore ISI reiterated an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $224.60.

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.