Cary Baker Sells 499 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 499 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $72,883.94. Following the completion of the transaction, the chief financial officer now directly owns 71,107 shares in the company, valued at $10,385,888.42. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, October 28th, Cary Baker sold 15,000 shares of Impinj stock. The stock was sold at an average price of $204.90, for a total value of $3,073,500.00.
• 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.

Impinj Stock Performance

NASDAQ:PI opened at $147.85 on Friday. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88. The firm’s fifty day moving average is $180.59 and its 200-day moving average is $176.83. The firm has a market cap of $4.18 billion, a P/E ratio of 166.12 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. The business’s quarterly revenue was up 46.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Impinj

A number of hedge funds have recently added to or reduced their stakes in PI. State Street Corp increased its stake in Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after purchasing an additional 220,776 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Impinj in the 2nd quarter valued at about $30,116,000. Principal Financial Group Inc. raised its stake in Impinj by 4,013.7% during the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after buying an additional 122,579 shares during the period. Wellington Management Group LLP bought a new position in Impinj in the third quarter worth approximately $24,771,000. Finally, AXA S.A. bought a new stake in shares of Impinj during the second quarter valued at approximately $11,574,000.

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.