Insider Selling: Impinj, Inc. (NASDAQ:PI) Insider Sells 565 Shares of Stock

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

Impinj Stock Down 2.2 %

NASDAQ:PI opened at $94.62 on Tuesday. The stock’s 50 day moving average price is $131.02 and its two-hundred day moving average price is $168.64. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 69.57 and a beta of 1.88. Impinj, Inc. has a 12-month low of $93.54 and a 12-month high of $239.88.

Impinj (NASDAQ:PI) last posted its earnings results 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 net margin of 11.15% and a return on equity of 7.11%. Equities research analysts expect that Impinj, Inc. will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Impinj

Institutional investors and hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC grew its position in shares of Impinj by 210.2% in the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after purchasing an additional 5,807 shares during the last quarter. Nordea Investment Management AB acquired a new position in shares of Impinj in the fourth quarter valued at approximately $3,341,000. Thrivent Financial for Lutherans acquired a new position in shares of Impinj in the third quarter valued at approximately $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Impinj in the third quarter valued at approximately $846,000. Finally, Intech Investment Management LLC acquired a new position in shares of Impinj in the third quarter valued at approximately $1,437,000.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PI shares. Needham & Company LLC dropped their target price on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. The Goldman Sachs Group dropped their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald dropped their target price on Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Piper Sandler dropped their target price on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Impinj presently has an average rating of “Moderate Buy” and an average price target of $180.10.

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.