Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells 374 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 374 shares of Impinj stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $118.70, for a total value of $44,393.80. Following the transaction, the chief financial officer now directly owns 67,948 shares in the company, valued at $8,065,427.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, March 25th, Cary Baker sold 1,062 shares of Impinj stock. The stock was sold at an average price of $127.61, for a total value of $135,521.82.
• 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 transaction of $37,806.30.
• On Friday, February 23rd, Cary Baker sold 4,829 shares of Impinj stock. The stock was 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 transaction 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 transaction of $2,042,800.00.

Impinj Price Performance

Impinj stock opened at $120.09 on Thursday. The firm’s fifty day moving average price is $115.86 and its two-hundred day moving average price is $91.51. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $142.70. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26.

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

Wall Street Analysts Forecast Growth

PI has been the topic of several research analyst reports. Susquehanna upped their target price on Impinj from $115.00 to $130.00 and gave the company a “positive” rating in a research report on Friday, February 9th. Roth Mkm raised their price objective on shares of Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Canaccord Genuity Group increased their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. The Goldman Sachs Group lifted their price target on shares of Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Evercore ISI started coverage on shares of Impinj in a research report on Tuesday. They set an “outperform” rating and a $160.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, Impinj presently has a consensus rating of “Moderate Buy” and an average price target of $119.44.

Institutional Trading of Impinj

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates grew its holdings in Impinj by 3.3% during the first quarter. Raymond James & Associates now owns 17,095 shares of the company’s stock worth $1,086,000 after buying an additional 540 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Impinj by 21.7% in the 1st quarter. HighTower Advisors LLC now owns 7,326 shares of the company’s stock worth $466,000 after acquiring an additional 1,305 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Impinj by 55.2% in the first quarter. MetLife Investment Management LLC now owns 10,123 shares of the company’s stock valued at $643,000 after purchasing an additional 3,601 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Impinj by 2.7% during the first quarter. Rhumbline Advisers now owns 19,620 shares of the company’s stock valued at $1,247,000 after purchasing an additional 516 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Impinj by 1.5% during the first quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock worth $89,758,000 after purchasing an additional 20,404 shares during the last quarter.

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.