Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio Sells 841 Shares

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 841 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.02, for a total value of $118,597.82. Following the completion of the transaction, the chief executive officer now directly owns 333,856 shares of the company’s stock, valued at approximately $47,080,373.12. This trade represents a 0.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, December 24th, Chris Ph.D. Diorio sold 1,504 shares of Impinj stock. The stock was sold at an average price of $146.22, for a total value of $219,914.88.
• 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.

Impinj Stock Performance

PI stock traded up $2.99 during midday trading on Tuesday, reaching $149.31. 473,899 shares of the company traded hands, compared to its average volume of 410,137. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 167.76 and a beta of 1.88. The business has a 50 day moving average of $168.32 and a 200-day moving average of $177.04. Impinj, Inc. has a 52-week low of $78.17 and a 52-week high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. Impinj’s revenue was up 46.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.36) earnings per share. Research analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PI. FMR LLC grew its position in shares of Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after acquiring an additional 60,461 shares during the period. State Street Corp raised its position in shares of Impinj by 25.7% during the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after buying an additional 220,776 shares during the period. Geode Capital Management LLC lifted its stake in Impinj by 1.4% during the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after purchasing an additional 7,676 shares in the last quarter. Jennison Associates LLC lifted its stake in Impinj by 15.0% during the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after purchasing an additional 31,269 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Impinj by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock worth $41,840,000 after purchasing an additional 6,232 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Lake Street Capital upped their price target on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI reissued an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Needham & Company LLC raised their price target on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Susquehanna raised their price target on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $224.60.

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.