Cathal G. Phelan Sells 565 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 565 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.77, for a total value of $55,805.05. Following the completion of the transaction, the insider now owns 7,925 shares in the company, valued at $782,752.25. The trade was a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Impinj Trading Down 1.6 %

Shares of Impinj stock opened at $93.14 on Wednesday. The company has a market capitalization of $2.66 billion, a PE ratio of 68.49 and a beta of 1.88. Impinj, Inc. has a 12 month low of $91.99 and a 12 month high of $239.88. The stock’s fifty 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 data on Wednesday, February 5th. The company reported ($0.01) EPS 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%. Analysts predict that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

PI has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Susquehanna reduced their price target on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Needham & Company LLC reduced their price target on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Piper Sandler reduced their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One equities 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $180.10.

Institutional Trading of Impinj

Several hedge funds have recently added to or reduced their stakes in PI. Canada Pension Plan Investment Board bought a new stake in shares of Impinj in the fourth quarter valued at about $29,000. National Bank of Canada FI bought a new stake in shares of Impinj in the third quarter valued at about $30,000. Farther Finance Advisors LLC lifted its holdings in shares of Impinj by 1,084.6% in the third 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. SBI Securities Co. Ltd. bought a new stake in shares of Impinj in the fourth quarter valued at about $33,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after purchasing an additional 175 shares in the last quarter.

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.