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

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

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

Impinj Trading Up 0.0 %

NASDAQ:PI opened at $147.85 on Friday. Impinj, Inc. has a 12-month low of $78.17 and a 12-month high of $239.88. The stock’s 50 day simple moving average is $180.59 and its 200-day simple moving average is $176.83. The firm has a market cap of $4.18 billion, a P/E ratio of 166.12 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted 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. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. Impinj’s quarterly revenue was up 46.5% on a year-over-year basis. During the same period last year, the firm posted ($0.36) EPS. Research analysts forecast that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PI. Raymond James & Associates grew its holdings in Impinj by 30.2% during the second quarter. Raymond James & Associates now owns 18,861 shares of the company’s stock worth $2,957,000 after acquiring an additional 4,373 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Impinj by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 121,159 shares of the company’s stock worth $18,994,000 after purchasing an additional 7,496 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Impinj by 79.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 66,361 shares of the company’s stock valued at $10,403,000 after purchasing an additional 29,299 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in shares of Impinj in the second quarter valued at about $275,000. Finally, nVerses Capital LLC boosted its holdings in Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Lake Street Capital upped their price objective on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Cantor Fitzgerald upped their target price on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.