Chris Ph.D. Diorio Sells 1,504 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 1,504 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total value of $219,914.88. Following the sale, the chief executive officer now owns 331,572 shares in the company, valued at $48,482,457.84. The trade was a 0.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, October 29th, Chris Ph.D. Diorio sold 34,474 shares of Impinj stock. The shares were sold at an average price of $201.51, for a total value of $6,946,855.74.
• On Monday, October 14th, Chris Ph.D. Diorio sold 1,219 shares of Impinj stock. The stock was sold at an average price of $237.82, for a total value of $289,902.58.

Impinj Price Performance

Shares of Impinj stock opened at $147.85 on Friday. Impinj, Inc. has a 1-year low of $78.17 and a 1-year high of $239.88. The business’s fifty day moving average price is $180.59 and its two-hundred day moving average price is $176.83. The company has a market capitalization of $4.18 billion, a P/E ratio of 166.12 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.36) earnings per share. On average, research analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PI shares. Susquehanna increased their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. The Goldman Sachs Group increased their price objective on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Cantor Fitzgerald lifted 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. Piper Sandler reiterated an “overweight” rating and set a $235.00 price target (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Evercore ISI restated an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PI. Los Angeles Capital Management LLC raised its holdings in Impinj by 210.2% during the third 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 in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Impinj during the 3rd quarter valued at $3,872,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Impinj in the 3rd quarter worth $846,000. Principal Financial Group Inc. lifted its holdings in shares of Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after buying an additional 122,579 shares during the period. Finally, Intech Investment Management LLC bought a new position in Impinj during the third quarter valued at about $1,437,000.

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.