Cary Baker Sells 1,553 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 1,553 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.76, for a total value of $153,374.28. Following the sale, the chief financial officer now directly owns 76,451 shares in the company, valued at $7,550,300.76. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, January 13th, Cary Baker sold 290 shares of Impinj stock. The shares were sold at an average price of $140.96, for a total value of $40,878.40.
• On Tuesday, December 24th, Cary Baker sold 499 shares of Impinj stock. The shares were sold at an average price of $146.06, for a total value of $72,883.94.

Impinj Stock Down 1.6 %

Shares of NASDAQ:PI opened at $93.14 on Wednesday. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 68.49 and a beta of 1.88. Impinj, Inc. has a 52-week low of $91.99 and a 52-week high of $239.88. The business has a 50-day moving average price of $131.02 and a 200-day moving average price of $168.64.

Impinj (NASDAQ:PI) last announced its quarterly 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%. As a group, equities analysts anticipate that Impinj, Inc. will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Impinj

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PI. Canada Pension Plan Investment Board purchased a new position in Impinj during the fourth quarter valued at $29,000. National Bank of Canada FI acquired a new stake in shares of Impinj in the third quarter valued at about $30,000. Farther Finance Advisors LLC increased its position in Impinj by 1,084.6% during the third 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. SBI Securities Co. Ltd. acquired a new stake in Impinj during the fourth quarter worth about $33,000. Finally, Jones Financial Companies Lllp increased its position in Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after purchasing an additional 175 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Susquehanna reduced their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Piper Sandler dropped their price target on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC dropped their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald dropped their price objective on Impinj from $260.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.10.

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.