Insider Selling: Impinj, Inc. (NASDAQ:PI) CEO Sells 647 Shares of Stock

Impinj, Inc. (NASDAQ:PIGet Rating) CEO Chris Ph.D. Diorio sold 647 shares of Impinj stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $87.95, for a total value of $56,903.65. Following the completion of the sale, the chief executive officer now owns 299,946 shares of the company’s stock, valued at $26,380,250.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Monday, August 22nd, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The shares were sold at an average price of $92.08, for a total transaction of $460,400.00.
  • On Tuesday, August 16th, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The shares were sold at an average price of $96.31, for a total transaction of $481,550.00.
  • On Wednesday, July 13th, Chris Ph.D. Diorio sold 1,242 shares of Impinj stock. The stock was sold at an average price of $64.46, for a total transaction of $80,059.32.
  • On Tuesday, July 5th, Chris Ph.D. Diorio sold 1,473 shares of Impinj stock. The stock was sold at an average price of $57.03, for a total value of $84,005.19.

Impinj Price Performance

PI opened at $92.00 on Tuesday. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -41.63 and a beta of 2.19. The business’s 50-day moving average price is $85.81 and its two-hundred day moving average price is $64.99. Impinj, Inc. has a 1 year low of $39.74 and a 1 year high of $99.00.

Impinj (NASDAQ:PIGet Rating) last released its earnings results on Wednesday, July 27th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.11. The firm had revenue of $59.80 million for the quarter, compared to analysts’ expectations of $55.12 million. Impinj had a negative return on equity of 236.49% and a negative net margin of 26.07%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.33) EPS. Sell-side analysts anticipate that Impinj, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PI has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their target price on Impinj from $78.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Needham & Company LLC boosted their price objective on shares of Impinj from $96.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Piper Sandler upped their target price on shares of Impinj from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Finally, Lake Street Capital boosted their price target on shares of Impinj from $87.00 to $94.00 in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.80.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in Impinj during the first quarter worth about $39,000. Vectors Research Management LLC bought a new stake in Impinj in the 2nd quarter valued at $59,000. Quantbot Technologies LP acquired a new stake in Impinj during the 1st quarter valued at $101,000. Benjamin F. Edwards & Company Inc. boosted its position in Impinj by 49.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock worth $138,000 after purchasing an additional 722 shares during the period. Finally, Asset Management One Co. Ltd. bought a new position in Impinj during the second quarter worth $151,000. 91.11% of the stock is currently owned by institutional investors and hedge funds.

About Impinj

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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