Chris Ph.D. Diorio Sells 1,504 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 1,504 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.22, for a total transaction of $219,914.88. Following the transaction, the chief executive officer now directly owns 331,572 shares in the company, valued at $48,482,457.84. The trade was a 0.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Chris Ph.D. Diorio also recently made the following trade(s):

• On Tuesday, October 29th, Chris Ph.D. Diorio sold 34,474 shares of Impinj stock. The shares were sold at an average price of $201.51, for a total value of $6,946,855.74.
• On Monday, October 14th, Chris Ph.D. Diorio sold 1,219 shares of Impinj stock. The stock was sold at an average price of $237.82, for a total value of $289,902.58.

Impinj Trading Down 0.7 %

Shares of NASDAQ PI opened at $147.78 on Friday. Impinj, Inc. has a 12-month low of $78.17 and a 12-month high of $239.88. The company has a market cap of $4.18 billion, a PE ratio of 166.04 and a beta of 1.80. The stock has a 50 day simple moving average of $183.64 and a 200-day simple moving average of $177.04.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The company 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 quarter in the previous year, the firm posted ($0.36) EPS. Sell-side analysts forecast that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Impinj

A number of institutional investors and hedge funds have recently bought and sold shares of PI. Los Angeles Capital Management LLC increased its position in shares of Impinj by 210.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after purchasing an additional 5,807 shares during the period. Thrivent Financial for Lutherans bought a new position in Impinj during the third quarter valued at about $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new position in Impinj during the third quarter worth about $846,000. Principal Financial Group Inc. raised its position in Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock worth $27,202,000 after acquiring an additional 122,579 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Impinj in the 3rd quarter valued at about $1,437,000.

Analyst Ratings Changes

Several brokerages recently issued reports on PI. The Goldman Sachs Group raised their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Lake Street Capital raised their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, Susquehanna upped their target price on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Impinj currently has a consensus rating of “Moderate Buy” and a consensus target price 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.