Cathal G. Phelan Sells 210 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the sale, the insider now owns 6,979 shares in the company, valued at $1,019,352.74. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Impinj Stock Up 0.0 %

Shares of NASDAQ:PI opened at $147.85 on Friday. Impinj, Inc. has a fifty-two week low of $78.17 and a fifty-two week high of $239.88. The firm’s 50-day simple moving average is $180.59 and its 200-day simple moving average is $176.83. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 166.12 and a beta of 1.80.

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

Institutional Investors Weigh In On Impinj

Several institutional investors have recently made changes to their positions in PI. National Bank of Canada FI purchased a new stake in shares of Impinj during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC raised its holdings in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Impinj during the third quarter worth $54,000. SouthState Corp acquired a new stake in Impinj in the second quarter valued at $94,000. Finally, nVerses Capital LLC increased its position in shares of Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares in the last quarter.

Analyst Ratings Changes

PI has been the topic of several recent analyst reports. Evercore ISI reissued an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Needham & Company LLC boosted their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price target on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Susquehanna boosted their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Finally, Lake Street Capital increased their target price on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.