Insider Selling: Impinj, Inc. (NASDAQ:PI) CRO Sells 577 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 577 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.20, for a total transaction of $120,708.40. Following the completion of the sale, the executive now directly owns 64,532 shares in the company, valued at $13,500,094.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, July 31st, Jeffrey Dossett sold 15,000 shares of Impinj stock. The stock was sold at an average price of $157.81, for a total transaction of $2,367,150.00.
• On Monday, July 15th, Jeffrey Dossett sold 475 shares of Impinj stock. The stock was sold at an average price of $175.38, for a total transaction of $83,305.50.

Impinj Stock Performance

PI traded up $1.30 on Wednesday, reaching $214.05. The company had a trading volume of 456,731 shares, compared to its average volume of 459,796. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $217.66. The stock has a market cap of $6.02 billion, a P/E ratio of -611.57 and a beta of 1.78. The company’s fifty day moving average is $166.79 and its 200 day moving average is $153.85.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business had revenue of $102.50 million for the quarter, compared to analyst estimates of $97.47 million. During the same quarter in the prior year, the business earned ($0.14) EPS. Impinj’s quarterly revenue was up 19.2% on a year-over-year basis. On average, sell-side analysts expect that Impinj, Inc. will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PI. Charles Schwab Investment Management Inc. grew its position in shares of Impinj by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock worth $16,282,000 after purchasing an additional 6,810 shares in the last quarter. UBS Group AG grew its position in shares of Impinj by 0.7% during the 4th quarter. UBS Group AG now owns 91,409 shares of the company’s stock worth $8,230,000 after purchasing an additional 637 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Impinj during the 4th quarter worth approximately $1,569,000. Eagle Asset Management Inc. grew its position in shares of Impinj by 19.6% during the 4th quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock worth $18,435,000 after purchasing an additional 33,504 shares in the last quarter. Finally, Capital International Investors acquired a new position in shares of Impinj during the 4th quarter worth approximately $68,211,000.

Analyst Ratings Changes

PI has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $205.00 price target on shares of Impinj in a research report on Thursday, July 25th. Roth Mkm boosted their price target on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Piper Sandler boosted their price target on shares of Impinj from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Lake Street Capital boosted their price target on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Evercore ISI boosted their price target on shares of Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Impinj has an average rating of “Moderate Buy” and a consensus target price of $187.10.

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.