Cary Baker Sells 499 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 499 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 $72,883.94. Following the transaction, the chief financial officer now directly owns 71,107 shares of the company’s stock, valued at $10,385,888.42. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, October 28th, Cary Baker sold 15,000 shares of Impinj stock. The shares were sold at an average price of $204.90, for a total value of $3,073,500.00.
• On Monday, October 14th, Cary Baker sold 366 shares of Impinj stock. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78.

Impinj Stock Up 0.0 %

PI opened at $147.85 on Friday. Impinj, Inc. has a 52-week low of $78.17 and a 52-week high of $239.88. The company has a 50 day moving average of $180.59 and a two-hundred day moving average of $177.03. The company has a market cap of $4.18 billion, a P/E ratio of 166.12 and a beta of 1.80.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping 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 analysts’ expectations of $92.86 million. During the same period in the prior year, the company earned ($0.36) EPS. The firm’s revenue was up 46.5% on a year-over-year basis. Research analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On Impinj

Several hedge funds have recently modified their holdings of PI. National Bank of Canada FI purchased a new stake in Impinj during the 3rd quarter worth $30,000. Farther Finance Advisors LLC grew its stake in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after acquiring an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the third quarter worth about $54,000. SouthState Corp acquired a new position in shares of Impinj in the second quarter worth about $94,000. Finally, nVerses Capital LLC boosted its holdings in Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PI. Cantor Fitzgerald lifted their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Susquehanna lifted their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Piper Sandler reissued an “overweight” rating and set a $235.00 price target (up previously from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Needham & Company LLC lifted their price objective on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group raised 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.