Impinj, Inc. (NASDAQ:PI) CFO Sells $270,060.00 in Stock

Impinj, Inc. (NASDAQ:PIGet Rating) CFO Cary Baker sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $90.02, for a total value of $270,060.00. Following the completion of the transaction, the chief financial officer now directly owns 31,814 shares in the company, valued at approximately $2,863,896.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

  • On Friday, July 29th, Cary Baker sold 7,875 shares of Impinj stock. The shares were sold at an average price of $83.82, for a total value of $660,082.50.
  • On Wednesday, July 13th, Cary Baker sold 373 shares of Impinj stock. The stock was sold at an average price of $64.46, for a total value of $24,043.58.
  • On Thursday, June 16th, Cary Baker sold 323 shares of Impinj stock. The stock was sold at an average price of $47.94, for a total value of $15,484.62.
  • On Wednesday, May 25th, Cary Baker sold 1,458 shares of Impinj stock. The stock was sold at an average price of $43.24, for a total value of $63,043.92.

Impinj Price Performance

PI opened at $95.17 on Friday. The business has a 50 day simple moving average of $62.18 and a 200-day simple moving average of $61.13. The stock has a market capitalization of $2.44 billion, a P/E ratio of -43.06 and a beta of 2.24. Impinj, Inc. has a 12 month low of $39.74 and a 12 month high of $96.95.

Impinj (NASDAQ:PIGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.13. The business had revenue of $59.80 million during the quarter, compared to analysts’ expectations of $55.12 million. Impinj had a negative return on equity of 236.49% and a negative net margin of 26.07%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.33) EPS. Research analysts anticipate that Impinj, Inc. will post -0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PI. The Goldman Sachs Group increased their price objective on Impinj from $78.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Roth Capital dropped their price objective on Impinj from $95.00 to $76.00 in a report on Thursday, April 28th. Piper Sandler increased their price objective on Impinj from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Needham & Company LLC raised their price target on Impinj from $96.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Finally, Lake Street Capital raised their price target on Impinj from $87.00 to $94.00 in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.80.

Hedge Funds Weigh In On Impinj

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Impinj by 1.5% during the first quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock worth $89,758,000 after purchasing an additional 20,404 shares during the last quarter. Invesco Ltd. increased its position in Impinj by 16.5% during the first quarter. Invesco Ltd. now owns 1,189,985 shares of the company’s stock worth $75,610,000 after buying an additional 168,597 shares in the last quarter. Vanguard Group Inc. increased its position in Impinj by 3.1% during the first quarter. Vanguard Group Inc. now owns 1,063,400 shares of the company’s stock worth $67,568,000 after buying an additional 31,819 shares in the last quarter. State Street Corp increased its position in Impinj by 18.2% during the first quarter. State Street Corp now owns 922,301 shares of the company’s stock worth $58,603,000 after buying an additional 142,182 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Impinj by 4.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 697,098 shares of the company’s stock worth $40,897,000 after buying an additional 29,962 shares in the last quarter. 88.00% of the stock is owned by institutional investors and hedge funds.

Impinj Company Profile

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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