Insider Selling: Impinj, Inc. (NASDAQ:PI) Insider Sells 10,000 Shares of Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $147.94, for a total transaction of $1,479,400.00. Following the completion of the sale, the insider now directly owns 15,801 shares in the company, valued at $2,337,599.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Impinj Trading Up 1.2 %

Shares of Impinj stock traded up $1.93 on Tuesday, hitting $159.38. The stock had a trading volume of 684,605 shares, compared to its average volume of 428,237. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. Impinj, Inc. has a one year low of $48.39 and a one year high of $160.71. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of -455.37 and a beta of 2.05. The stock’s 50-day simple moving average is $120.33 and its two-hundred day simple moving average is $96.31.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The firm had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. As a group, sell-side analysts predict that Impinj, Inc. will post -0.62 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PI shares. The Goldman Sachs Group raised their target price on shares of Impinj from $130.00 to $156.00 and gave the company a “buy” rating in a research note on Friday. Susquehanna increased their price target on shares of Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Tuesday, April 23rd. Piper Sandler reiterated an “overweight” rating and set a $150.00 price target (up from $130.00) on shares of Impinj in a research report on Thursday, April 25th. Evercore ISI started coverage on shares of Impinj in a research report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price target on the stock. Finally, Canaccord Genuity Group increased their price target on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PI. Future Financial Wealth Managment LLC bought a new position in shares of Impinj in the first quarter worth approximately $32,000. GAMMA Investing LLC bought a new stake in Impinj in the fourth quarter valued at $40,000. Headlands Technologies LLC bought a new stake in Impinj in the fourth quarter valued at $58,000. Asset Management One Co. Ltd. boosted its holdings in Impinj by 74.6% in the third quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock valued at $67,000 after acquiring an additional 524 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Impinj by 75.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,468 shares of the company’s stock valued at $81,000 after acquiring an additional 629 shares in the last quarter.

About Impinj

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.