Impinj, Inc. (NASDAQ:PI) Insider Sells $30,672.60 in Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the transaction, the insider now directly owns 6,979 shares of the company’s stock, valued at approximately $1,019,352.74. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Impinj Stock Performance

Shares of Impinj stock opened at $147.85 on Friday. The firm has a 50-day moving average of $180.59 and a 200-day moving average of $177.03. Impinj, Inc. has a 52-week low of $78.17 and a 52-week high of $239.88. The stock has a market cap of $4.18 billion, a PE 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same quarter in the previous year, the firm posted ($0.36) EPS. The business’s revenue for the quarter was up 46.5% compared to the same quarter last year. Equities research analysts predict that Impinj, Inc. will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Impinj

A number of large investors have recently added to or reduced their stakes in PI. National Bank of Canada FI acquired a new position in Impinj in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC increased its position 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 worth $33,000 after purchasing an additional 141 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Impinj in the third quarter valued at about $54,000. SouthState Corp bought a new stake in Impinj during the second quarter worth about $94,000. Finally, nVerses Capital LLC grew its stake 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.

Analysts Set New Price Targets

PI has been the subject of a number of research analyst reports. Lake Street Capital lifted 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. Cantor Fitzgerald lifted their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their target price on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. 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. Finally, Piper Sandler reiterated an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. One investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.