Jeffrey Dossett Sells 580 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 580 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $84,714.80. Following the completion of the transaction, the executive now directly owns 66,180 shares in the company, valued at approximately $9,666,250.80. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Jeffrey Dossett also recently made the following trade(s):

• On Thursday, November 14th, Jeffrey Dossett sold 7,500 shares of Impinj stock. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00.
• On Monday, October 14th, Jeffrey Dossett sold 488 shares of Impinj stock. The stock was sold at an average price of $237.84, for a total value of $116,065.92.

Impinj Stock Performance

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 company has a 50 day moving average price of $180.59 and a 200 day moving average price of $176.83. The stock has a market capitalization 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 data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm posted ($0.36) earnings per share. The company’s revenue was up 46.5% on a year-over-year basis. Research analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its stake in shares of Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after acquiring an additional 122,579 shares in the last quarter. Virtu Financial LLC acquired a new position in Impinj during the 3rd quarter worth $1,749,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Impinj during the 3rd quarter worth about $846,000. Geode Capital Management LLC raised its position in Impinj by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after purchasing an additional 7,676 shares in the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Impinj in the 3rd quarter valued at about $30,000.

Analysts Set New Price Targets

Several brokerages have issued reports on PI. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Susquehanna upped 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. The Goldman Sachs Group lifted their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Needham & Company LLC increased 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. Finally, Piper Sandler restated an “overweight” rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

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.