Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio Sells 5,000 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 5,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $154.03, for a total transaction of $770,150.00. Following the completion of the sale, the chief executive officer now directly owns 289,474 shares of the company’s stock, valued at approximately $44,587,680.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, June 24th, Chris Ph.D. Diorio sold 6,519 shares of Impinj stock. The shares were sold at an average price of $148.01, for a total transaction of $964,877.19.
• On Tuesday, June 18th, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The shares were sold at an average price of $150.92, for a total transaction of $754,600.00.
• On Tuesday, June 11th, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The shares were sold at an average price of $146.49, for a total transaction of $732,450.00.
• On Friday, April 26th, Chris Ph.D. Diorio sold 26,661 shares of Impinj stock. The stock was sold at an average price of $147.02, for a total transaction of $3,919,700.22.
• On Monday, April 15th, Chris Ph.D. Diorio sold 1,244 shares of Impinj stock. The stock was sold at an average price of $118.67, for a total transaction of $147,625.48.

Impinj Stock Up 2.2 %

Shares of NASDAQ:PI opened at $158.68 on Wednesday. The firm’s 50 day moving average price is $158.32 and its 200 day moving average price is $124.52. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -453.37 and a beta of 1.78. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $175.41. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.14. The firm had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. As a group, equities research analysts predict that Impinj, Inc. will post 0.02 earnings per share for the current fiscal year.

Institutional Trading of Impinj

Several hedge funds have recently added to or reduced their stakes in PI. Rhumbline Advisers raised its holdings in Impinj by 3.2% during the third quarter. Rhumbline Advisers now owns 32,228 shares of the company’s stock worth $1,773,000 after purchasing an additional 989 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Impinj by 41.2% during the third quarter. PNC Financial Services Group Inc. now owns 3,941 shares of the company’s stock worth $217,000 after purchasing an additional 1,149 shares in the last quarter. KADENSA CAPITAL Ltd raised its holdings in Impinj by 13.8% during the third quarter. KADENSA CAPITAL Ltd now owns 33,324 shares of the company’s stock worth $1,834,000 after purchasing an additional 4,049 shares in the last quarter. Scopia Capital Management LP acquired a new stake in Impinj during the third quarter worth approximately $878,000. Finally, Comerica Bank raised its holdings in Impinj by 2,591.4% during the third quarter. Comerica Bank now owns 118,071 shares of the company’s stock worth $6,497,000 after purchasing an additional 113,684 shares in the last quarter.

Analysts Set New Price Targets

PI has been the subject of several research analyst reports. The Goldman Sachs Group lowered shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 target price for the company. in a research note on Monday, May 20th. Evercore ISI initiated coverage on shares of Impinj in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price objective on shares of Impinj in a research note on Wednesday, June 5th. Canaccord Genuity Group raised their price objective on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Finally, Piper Sandler reissued an “overweight” rating and issued a $150.00 price objective (up previously from $130.00) on shares of Impinj in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $154.00.

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.