Impinj, Inc. (NASDAQ:PI) CFO Cary Baker Sells 15,000 Shares

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $204.90, for a total value of $3,073,500.00. Following the sale, the chief financial officer now owns 71,096 shares in the company, valued at $14,567,570.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, October 14th, Cary Baker sold 366 shares of Impinj stock. The shares were sold at an average price of $237.83, for a total value of $87,045.78.
• On Tuesday, September 24th, Cary Baker sold 496 shares of Impinj stock. The shares were sold at an average price of $209.17, for a total value of $103,748.32.

Impinj Price Performance

PI opened at $189.99 on Friday. Impinj, Inc. has a 12 month low of $59.64 and a 12 month high of $239.88. The stock has a market cap of $5.27 billion, a P/E ratio of -542.83 and a beta of 1.80. The stock’s 50 day moving average price is $199.27 and its 200 day moving average price is $171.00.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $95.20 million during 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 firm’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period last year, the company posted ($0.36) EPS. Equities analysts anticipate that Impinj, Inc. will post 0.35 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Susquehanna upped their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Roth Mkm increased their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. 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, Cantor Fitzgerald increased their price target on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. 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 company. Based on data from MarketBeat, Impinj currently has an average rating of “Moderate Buy” and an average price target of $224.60.

Hedge Funds Weigh In On Impinj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Impinj during the 1st quarter worth $513,000. TimesSquare Capital Management LLC bought a new stake in shares of Impinj during the 1st quarter worth $19,195,000. Harbor Capital Advisors Inc. boosted its stake in shares of Impinj by 112.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock worth $2,122,000 after acquiring an additional 7,151 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Impinj by 13.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after acquiring an additional 7,247 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Impinj by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after acquiring an additional 35,893 shares in the last quarter.

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.