Insider Selling: Impinj, Inc. (NASDAQ:PI) CFO Sells $135,521.82 in Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 1,062 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $127.61, for a total transaction of $135,521.82. Following the completion of the sale, the chief financial officer now directly owns 67,384 shares in the company, valued at $8,598,872.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, March 18th, Cary Baker sold 306 shares of Impinj stock. The shares were sold at an average price of $123.55, for a total transaction of $37,806.30.
• On Friday, February 23rd, Cary Baker sold 4,829 shares of Impinj stock. The stock was sold at an average price of $101.17, for a total transaction of $488,549.93.
• On Monday, February 26th, Cary Baker sold 1,455 shares of Impinj stock. The stock was sold at an average price of $103.68, for a total transaction of $150,854.40.
• On Wednesday, February 14th, Cary Baker sold 20,000 shares of Impinj stock. The shares were sold at an average price of $102.14, for a total transaction of $2,042,800.00.
• On Tuesday, January 16th, Cary Baker sold 278 shares of Impinj stock. The stock was sold at an average price of $81.19, for a total transaction of $22,570.82.

Impinj Price Performance

Impinj stock opened at $128.41 on Friday. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. Impinj, Inc. has a twelve month low of $48.39 and a twelve month high of $142.70. The company’s 50-day moving average price is $109.91 and its 200-day moving average price is $85.04.

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

Institutional Investors Weigh In On Impinj

Several institutional investors have recently made changes to their positions in PI. The Manufacturers Life Insurance Company grew its holdings in shares of Impinj by 1.0% in the fourth 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 lifted its stake 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 worth $462,000 after purchasing an additional 115 shares during the last quarter. American International Group Inc. grew its stake in Impinj by 1.1% in the fourth quarter. American International Group Inc. now owns 11,601 shares of the company’s stock valued at $1,044,000 after purchasing an additional 122 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Impinj by 5.8% during the third quarter. Royal Bank of Canada now owns 2,762 shares of the company’s stock valued at $221,000 after buying an additional 151 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings 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 purchasing an additional 182 shares during the last quarter.

Analyst Ratings Changes

PI has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price target on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. StockNews.com upgraded shares of Impinj to a “sell” rating in a research note on Friday, February 9th. Needham & Company LLC increased their target price on Impinj from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Roth Mkm raised their price target on shares of Impinj from $115.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Finally, Susquehanna boosted their price target on Impinj from $115.00 to $130.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $114.38.

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.