Insider Selling: Impinj, Inc. (NASDAQ:PI) Insider Sells 210 Shares of Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 210 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $30,672.60. Following the transaction, the insider now directly owns 6,979 shares of the company’s stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Impinj Trading Up 0.0 %

Shares of PI stock opened at $147.85 on Friday. The company’s fifty day simple moving average is $180.59 and its 200-day simple moving average is $176.83. Impinj, Inc. has a 52 week low of $78.17 and a 52 week high of $239.88. The company has a market cap of $4.18 billion, a PE ratio of 166.12 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 46.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.36) earnings per share. Equities research analysts expect that Impinj, Inc. will post 0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Impinj

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new position in Impinj during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC raised its stake in shares of Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Impinj during the third quarter worth about $54,000. SouthState Corp acquired a new position in Impinj in the second quarter worth about $94,000. Finally, Asset Management One Co. Ltd. bought a new stake in Impinj in the third quarter valued at about $138,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Susquehanna boosted their target price on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Needham & Company LLC boosted their price objective on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 target price (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.