Insider Selling: Impinj, Inc. (NASDAQ:PI) CEO Sells 34,474 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 34,474 shares of Impinj stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $201.51, for a total transaction of $6,946,855.74. Following the completion of the sale, the chief executive officer now owns 294,438 shares in the company, valued at approximately $59,332,201.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 transaction of $289,902.58.
• On Tuesday, September 24th, Chris Ph.D. Diorio sold 1,498 shares of Impinj stock. The stock was sold at an average price of $209.12, for a total transaction of $313,261.76.

Impinj Price Performance

Impinj stock opened at $194.71 on Friday. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 218.78 and a beta of 1.80. Impinj, Inc. has a 1 year low of $62.84 and a 1 year high of $239.88. The firm has a 50-day moving average of $199.89 and a two-hundred day moving average of $171.53.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.36) EPS. Research analysts expect that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On Impinj

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Impinj in the 3rd quarter valued at about $54,000. SouthState Corp bought a new stake in shares of Impinj in the 2nd quarter valued at about $94,000. nVerses Capital LLC raised its holdings in shares of Impinj by 75.0% in 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 in the last quarter. Finally, Jamison Private Wealth Management Inc. raised its holdings in shares of Impinj by 211.2% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after purchasing an additional 549 shares in the last quarter.

Wall Street Analysts Forecast Growth

PI has been the topic of a number of research reports. Evercore ISI restated an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Susquehanna boosted 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. Roth Mkm boosted their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Cantor Fitzgerald lifted their price target 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.