Jeffrey Dossett Sells 7,500 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $181.17, for a total value of $1,358,775.00. Following the sale, the executive now directly owns 65,294 shares in the company, valued at approximately $11,829,313.98. The trade was a 10.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, October 14th, Jeffrey Dossett sold 488 shares of Impinj stock. The shares were sold at an average price of $237.84, for a total transaction of $116,065.92.
• On Tuesday, September 24th, Jeffrey Dossett sold 577 shares of Impinj stock. The stock was sold at an average price of $209.20, for a total transaction of $120,708.40.

Impinj Stock Down 1.2 %

NASDAQ:PI traded down $2.17 on Friday, reaching $180.56. The company’s stock had a trading volume of 24,288 shares, compared to its average volume of 471,648. The stock has a 50 day moving average price of $204.99 and a 200 day moving average price of $175.70. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 205.31 and a beta of 1.81. Impinj, Inc. has a 12-month low of $78.17 and a 12-month high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.36) earnings per share. Equities research analysts expect that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Trading of Impinj

Several institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after buying an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj in the 3rd quarter valued at approximately $54,000. SouthState Corp purchased a new stake in shares of Impinj in the second quarter valued at approximately $94,000. nVerses Capital LLC boosted its stake in shares of Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. grew its holdings in Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after acquiring an additional 549 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group raised 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. Piper Sandler reissued an “overweight” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Lake Street Capital upped their price target on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Roth Mkm increased their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Evercore ISI restated an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.