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 stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $147.94, for a total value of $1,479,400.00. Following the completion of the transaction, the insider now owns 15,801 shares in the company, valued at approximately $2,337,599.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Impinj Price Performance

Shares of PI traded up $1.93 during mid-day trading on Tuesday, hitting $159.38. The company’s stock had a trading volume of 684,605 shares, compared to its average volume of 428,237. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. The firm has a 50-day simple moving average of $120.33 and a 200 day simple moving average of $96.31. The firm has a market capitalization of $4.42 billion, a P/E ratio of -455.37 and a beta of 2.05. Impinj, Inc. has a 1-year low of $48.39 and a 1-year high of $160.71.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.14. The business had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Analysts predict that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Roth Mkm raised their price target on Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. The Goldman Sachs Group raised their price target on Impinj from $130.00 to $156.00 and gave the stock a “buy” rating in a research note on Friday. Evercore ISI assumed coverage on Impinj in a research note on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price target on the stock. Susquehanna raised their price target on Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research note on Tuesday, April 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $150.00 price target (up previously from $130.00) on shares of Impinj in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.89.

Hedge Funds Weigh In On Impinj

Several hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Impinj by 2.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock valued at $462,000 after purchasing an additional 115 shares in the last quarter. Wealth Effects LLC increased its position in Impinj by 1.0% during the first quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock worth $1,945,000 after buying an additional 150 shares in the last quarter. Arizona State Retirement System increased its position in Impinj by 3.3% during the third quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock worth $355,000 after buying an additional 205 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Impinj during the first quarter worth $32,000. Finally, GAMMA Investing LLC purchased a new position in Impinj during the fourth quarter worth $40,000.

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.