Impinj, Inc. (NASDAQ:PI) CFO Cary Baker Sells 1,553 Shares

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 1,553 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the sale, the chief financial officer now directly owns 76,451 shares in the company, valued at approximately $7,550,300.76. The trade was a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, January 13th, Cary Baker sold 290 shares of Impinj stock. The stock was sold at an average price of $140.96, for a total transaction of $40,878.40.
• On Tuesday, December 24th, Cary Baker sold 499 shares of Impinj stock. The shares were sold at an average price of $146.06, for a total transaction of $72,883.94.

Impinj Stock Performance

Shares of PI stock opened at $94.62 on Tuesday. Impinj, Inc. has a fifty-two week low of $93.54 and a fifty-two week high of $239.88. The firm has a market capitalization of $2.70 billion, a PE ratio of 69.57 and a beta of 1.88. The stock’s 50-day simple moving average is $131.02 and its 200-day simple moving average is $168.64.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. Sell-side analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PI shares. Piper Sandler decreased their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC decreased their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Susquehanna decreased their price target on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group lowered their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $180.10.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC raised its position in Impinj by 210.2% during the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after acquiring an additional 5,807 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Impinj during the 4th quarter valued at approximately $3,341,000. Thrivent Financial for Lutherans purchased a new position in shares of Impinj during the 3rd quarter valued at approximately $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Impinj in the 3rd quarter valued at $846,000. Finally, Intech Investment Management LLC purchased a new stake in Impinj during the third quarter worth $1,437,000.

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.