Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett Sells 580 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 580 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $84,714.80. Following the completion of the sale, the executive now owns 66,180 shares of the company’s stock, valued at approximately $9,666,250.80. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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.
• 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.

Impinj Stock Down 0.7 %

NASDAQ:PI opened at $147.78 on Friday. The company has a market cap of $4.18 billion, a PE ratio of 166.04 and a beta of 1.80. The business’s 50 day moving average is $183.64 and its two-hundred day moving average is $177.04. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88.

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, topping the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same period last year, the business posted ($0.36) earnings per share. The firm’s revenue for the quarter was up 46.5% on a year-over-year basis. As a group, sell-side analysts expect that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

PI has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Cantor Fitzgerald raised their target price on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Needham & Company LLC boosted their price target on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Susquehanna increased their price target on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. Finally, Piper Sandler restated an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $224.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. National Bank of Canada FI acquired a new stake in Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC grew its holdings in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Impinj during the 3rd quarter worth approximately $54,000. SouthState Corp bought a new stake in shares of Impinj in the 2nd quarter worth approximately $94,000. Finally, nVerses Capital LLC boosted its position in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares during the period.

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.