Insider Selling: Impinj, Inc. (NASDAQ:PI) CEO Sells $147,625.48 in Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 1,244 shares of Impinj stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $118.67, for a total transaction of $147,625.48. Following the completion of the sale, the chief executive officer now owns 286,230 shares of the company’s stock, valued at $33,966,914.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Chris Ph.D. Diorio also recently made the following trade(s):

• On Monday, March 25th, Chris Ph.D. Diorio sold 2,953 shares of Impinj stock. The shares were sold at an average price of $127.19, for a total transaction of $375,592.07.
• On Monday, March 18th, Chris Ph.D. Diorio sold 612 shares of Impinj stock. The shares were sold at an average price of $123.56, for a total transaction of $75,618.72.
• On Monday, February 26th, Chris Ph.D. Diorio sold 5,000 shares of Impinj stock. The shares were sold at an average price of $105.00, for a total transaction of $525,000.00.
• On Friday, February 23rd, Chris Ph.D. Diorio sold 16,060 shares of Impinj stock. The shares were sold at an average price of $101.16, for a total transaction of $1,624,629.60.

Impinj Price Performance

NASDAQ:PI opened at $116.32 on Friday. The company has a 50 day moving average price of $116.30 and a 200-day moving average price of $92.16. 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 1-year low of $48.39 and a 1-year high of $141.68.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.11. The company had revenue of $70.65 million during the quarter, compared to analyst estimates of $67.10 million. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. Analysts anticipate that Impinj, Inc. will post -0.62 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on PI. The Goldman Sachs Group lifted their price objective on shares of Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Roth Mkm lifted their price objective on shares of Impinj from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Susquehanna lifted their price objective on shares of Impinj from $115.00 to $130.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Evercore ISI started coverage on shares of Impinj in a report on Tuesday. They set an “outperform” rating and a $160.00 target price for the company. Finally, Canaccord Genuity Group lifted their target price on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $119.44.

Institutional Investors Weigh In On Impinj

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its stake in Impinj by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 8,583 shares of the company’s stock worth $937,000 after purchasing an additional 86 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Impinj by 2.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock valued at $462,000 after acquiring an additional 115 shares during the last quarter. American International Group Inc. boosted its position in shares of Impinj by 1.1% during the 4th quarter. American International Group Inc. now owns 11,601 shares of the company’s stock valued at $1,044,000 after acquiring an additional 122 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Impinj by 5.8% during the 3rd quarter. Royal Bank of Canada now owns 2,762 shares of the company’s stock valued at $221,000 after acquiring an additional 151 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Impinj by 10.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,899 shares of the company’s stock valued at $170,000 after acquiring an additional 182 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.