Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells 1,062 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 1,062 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $127.61, for a total transaction of $135,521.82. Following the completion of the transaction, the chief financial officer now owns 67,384 shares in the company, valued at $8,598,872.24. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, March 18th, Cary Baker sold 306 shares of Impinj stock. The shares were sold at an average price of $123.55, for a total value of $37,806.30.
• On Friday, February 23rd, Cary Baker sold 4,829 shares of Impinj stock. The shares were sold at an average price of $101.17, for a total transaction of $488,549.93.
• On Monday, February 26th, Cary Baker sold 1,455 shares of Impinj stock. The stock was sold at an average price of $103.68, for a total value of $150,854.40.
• On Wednesday, February 14th, Cary Baker sold 20,000 shares of Impinj stock. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00.
• On Tuesday, January 16th, Cary Baker sold 278 shares of Impinj stock. The shares were sold at an average price of $81.19, for a total transaction of $22,570.82.

Impinj Stock Up 0.8 %

Shares of NASDAQ PI opened at $128.41 on Friday. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. Impinj, Inc. has a one year low of $48.39 and a one year high of $142.70. The business has a 50-day moving average price of $109.91 and a two-hundred day moving average price of $85.04.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.11. The business had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $67.10 million. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. As a group, equities analysts expect that Impinj, Inc. will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

Several institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Impinj by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 8,583 shares of the company’s stock worth $937,000 after acquiring an additional 86 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Impinj by 2.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock worth $462,000 after purchasing an additional 115 shares during the last quarter. American International Group Inc. raised its stake in shares of Impinj by 1.1% during the 4th quarter. American International Group Inc. now owns 11,601 shares of the company’s stock worth $1,044,000 after purchasing an additional 122 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Impinj by 5.8% during the 3rd quarter. Royal Bank of Canada now owns 2,762 shares of the company’s stock valued at $221,000 after buying an additional 151 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Impinj by 10.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,899 shares of the company’s stock worth $170,000 after purchasing an additional 182 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Susquehanna raised their price target on shares of Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Roth Mkm raised their price target on Impinj from $115.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, March 14th. The Goldman Sachs Group boosted their price target on shares of Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Needham & Company LLC upped their target price on Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Canaccord Genuity Group boosted their price objective on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $114.38.

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.