Impinj, Inc. (NASDAQ:PI) CFO Sells $44,393.80 in Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 374 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $118.70, for a total value of $44,393.80. Following the completion of the sale, the chief financial officer now directly owns 67,948 shares in the company, valued at approximately $8,065,427.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 25th, Cary Baker sold 1,062 shares of Impinj stock. The shares were sold at an average price of $127.61, for a total transaction of $135,521.82.
• On Monday, March 18th, Cary Baker sold 306 shares of Impinj stock. The stock was sold at an average price of $123.55, for a total value of $37,806.30.
• On Friday, February 23rd, Cary Baker sold 4,829 shares of Impinj stock. The stock was sold at an average price of $101.17, for a total value of $488,549.93.
• On Monday, February 26th, Cary Baker sold 1,455 shares of Impinj stock. The stock was sold at an average price of $103.68, for a total value of $150,854.40.
• On Wednesday, February 14th, Cary Baker sold 20,000 shares of Impinj stock. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00.

Impinj Price Performance

Shares of Impinj stock traded down $0.23 on Wednesday, reaching $121.16. 212,150 shares of the company were exchanged, compared to its average volume of 367,482. The stock has a fifty day moving average price of $115.60 and a 200-day moving average price of $91.31. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $142.70.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The business had revenue of $70.65 million for the quarter, compared to the consensus estimate of $67.10 million. Sell-side analysts expect that Impinj, Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Sylebra Capital LLC grew its stake in Impinj by 6.3% in the fourth quarter. Sylebra Capital LLC now owns 4,197,352 shares of the company’s stock valued at $377,888,000 after purchasing an additional 248,786 shares in the last quarter. FMR LLC lifted its position in shares of Impinj by 0.8% in the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after buying an additional 31,289 shares during the last quarter. Sylebra Capital Ltd lifted its position in shares of Impinj by 4.1% in the first quarter. Sylebra Capital Ltd now owns 2,848,085 shares of the company’s stock worth $385,972,000 after buying an additional 111,697 shares during the last quarter. BlackRock Inc. lifted its position in shares of Impinj by 1.5% in the first quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock worth $89,758,000 after buying an additional 20,404 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Impinj by 13.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,251,084 shares of the company’s stock worth $100,124,000 after purchasing an additional 153,039 shares during the last quarter.

Wall Street Analysts Forecast Growth

PI has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Evercore ISI assumed coverage on Impinj in a research report on Tuesday. They issued an “outperform” rating and a $160.00 target price for the company. Roth Mkm lifted their target price on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Canaccord Genuity Group lifted their target price on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Needham & Company LLC lifted their target price on Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.44.

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.