Impinj, Inc. (NASDAQ:PI) Director Umesh Padval Sells 3,475 Shares

Impinj, Inc. (NASDAQ:PI) Director Umesh Padval sold 3,475 shares of Impinj stock in a transaction on Friday, April 26th. The shares were sold at an average price of $151.39, for a total value of $526,080.25. Following the completion of the transaction, the director now directly owns 3,529 shares of the company’s stock, valued at $534,255.31. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Impinj Trading Up 1.2 %

Shares of PI stock opened at $159.38 on Wednesday. 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 twelve month low of $48.39 and a twelve month high of $160.71. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. The stock’s fifty day simple moving average is $121.49 and its 200 day simple moving average is $97.06.

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

Institutional Investors Weigh In On Impinj

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its position in shares of Impinj by 0.8% in the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after buying an additional 31,289 shares during the last quarter. Sylebra Capital LLC bought a new stake in shares of Impinj in the 3rd quarter valued at about $217,290,000. Westfield Capital Management Co. LP grew its position in shares of Impinj by 40.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after buying an additional 292,470 shares during the last quarter. Fred Alger Management LLC grew its position in shares of Impinj by 249.6% in the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after buying an additional 568,301 shares during the last quarter. Finally, Capital International Investors bought a new stake in shares of Impinj in the 4th quarter valued at about $68,211,000.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price objective (up from $130.00) on shares of Impinj in a report on Thursday, April 25th. Needham & Company LLC boosted their price target on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Roth Mkm boosted their price target on Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group boosted their price target on Impinj from $130.00 to $156.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a report on Friday, April 26th. One 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $132.89.

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.