Impinj, Inc. (NASDAQ:PI) CRO Sells $263,427.46 in Stock

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

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 transaction of $53,316.90.
• On Tuesday, December 24th, Jeffrey Dossett sold 580 shares of Impinj stock. The stock was sold at an average price of $146.06, for a total value of $84,714.80.

Impinj Price Performance

PI stock traded down $2.13 during midday trading on Monday, hitting $94.62. The company’s stock had a trading volume of 543,084 shares, compared to its average volume of 766,156. The company’s fifty day moving average price is $132.13 and its 200 day moving average price is $169.02. Impinj, Inc. has a twelve month low of $93.54 and a twelve month high of $239.88. The stock has a market capitalization of $2.70 billion, a P/E ratio of 69.57 and a beta of 1.88.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Cantor Fitzgerald lowered their price target on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. The Goldman Sachs Group dropped their target price on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Susquehanna reduced their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Needham & Company LLC lowered their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $180.10.

Institutional Investors Weigh In On Impinj

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. increased its holdings in Impinj by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock worth $3,586,000 after buying an additional 95 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock valued at $1,612,000 after acquiring an additional 100 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Impinj by 6.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company’s stock valued at $238,000 after acquiring an additional 106 shares during the period. National Bank of Canada FI acquired a new position in shares of Impinj during the 3rd quarter worth about $30,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares during 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.