Impinj, Inc. (NASDAQ:PI) CFO Cary Baker Sells 499 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 499 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $72,883.94. Following the completion of the transaction, the chief financial officer now owns 71,107 shares in the company, valued at $10,385,888.42. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cary Baker also recently made the following trade(s):

• On Monday, October 28th, Cary Baker sold 15,000 shares of Impinj stock. The shares were sold at an average price of $204.90, for a total transaction of $3,073,500.00.
• On Monday, October 14th, Cary Baker sold 366 shares of Impinj stock. The stock was sold at an average price of $237.83, for a total value of $87,045.78.

Impinj Stock Down 0.7 %

NASDAQ PI opened at $147.78 on Friday. The stock has a market cap of $4.18 billion, a P/E ratio of 166.04 and a beta of 1.80. Impinj, Inc. has a twelve month low of $78.17 and a twelve month high of $239.88. The company’s 50-day simple moving average is $183.64 and its 200 day simple moving average is $177.04.

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. The company had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The company’s revenue was up 46.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.36) EPS. Research analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PI. 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. Thrivent Financial for Lutherans acquired a new position in Impinj in the third quarter valued at about $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new position in Impinj in the third quarter valued at about $846,000. Principal Financial Group Inc. grew its stake in Impinj by 4,013.7% during the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after buying an additional 122,579 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Impinj during the third quarter worth approximately $1,437,000.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PI. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Cantor Fitzgerald raised their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Lake Street Capital raised their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.