Insider Selling: Impinj, Inc. (NASDAQ:PI) CRO Sells 2,666 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 2,666 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $263,427.46. Following the completion of the transaction, the executive now owns 71,886 shares in the company, valued at approximately $7,103,055.66. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Jeffrey Dossett also recently made the following trade(s):

• On Monday, January 13th, Jeffrey Dossett sold 378 shares of Impinj stock. The shares were sold at an average price of $141.05, for a total value of $53,316.90.
• On Tuesday, December 24th, Jeffrey Dossett sold 580 shares of Impinj stock. The shares were sold at an average price of $146.06, for a total value of $84,714.80.

Impinj Trading Up 3.4 %

Shares of PI stock opened at $96.28 on Thursday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 70.79 and a beta of 1.88. The stock has a 50 day simple moving average of $129.92 and a 200-day simple moving average of $168.24. Impinj, Inc. has a 12-month low of $91.99 and a 12-month high of $239.88.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, equities analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PI shares. Cantor Fitzgerald decreased their target price on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC decreased their target price on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Susquehanna decreased their target price on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Finally, The Goldman Sachs Group decreased their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. One equities research 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, Impinj currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.10.

Hedge Funds Weigh In On Impinj

Several hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in Impinj by 330.9% in the 4th quarter. Mackenzie Financial Corp now owns 6,317 shares of the company’s stock valued at $918,000 after purchasing an additional 4,851 shares in the last quarter. Sylebra Capital LLC increased its stake in Impinj by 8.6% in the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock valued at $504,360,000 after purchasing an additional 274,764 shares in the last quarter. Squarepoint Ops LLC increased its position in Impinj by 32.9% during the fourth quarter. Squarepoint Ops LLC now owns 310,743 shares of the company’s stock worth $45,139,000 after buying an additional 76,886 shares in the last quarter. Twinbeech Capital LP purchased a new position in Impinj during the fourth quarter worth $2,693,000. Finally, Tidal Investments LLC purchased a new position in Impinj during the fourth quarter worth $12,921,000.

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.