Insider Selling: Impinj, Inc. (NASDAQ:PI) CEO Sells 1,244 Shares of Stock

Impinj, Inc. (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 1,244 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $118.67, for a total value of $147,625.48. Following the completion of the sale, the chief executive officer now directly owns 286,230 shares of the company’s stock, valued at $33,966,914.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

Impinj Stock Performance

Shares of PI stock opened at $116.32 on Friday. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $141.68. The business has a fifty day simple moving average of $116.30 and a 200-day simple moving average of $92.16. 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 (NASDAQ:PI) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. The firm had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $67.10 million. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. On average, analysts predict that Impinj, Inc. will post -0.62 earnings per share for the current year.

Institutional Trading of Impinj

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in 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 in the last quarter. American International Group Inc. increased its position in Impinj by 1.1% during the 4th quarter. American International Group Inc. now owns 11,601 shares of the company’s stock worth $1,044,000 after purchasing an additional 122 shares in the last quarter. Royal Bank of Canada increased its position in Impinj by 5.8% during the 3rd quarter. Royal Bank of Canada now owns 2,762 shares of the company’s stock worth $221,000 after purchasing an additional 151 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in Impinj by 10.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,899 shares of the company’s stock worth $170,000 after purchasing an additional 182 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently weighed in on PI. The Goldman Sachs Group increased their price target on Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Needham & Company LLC increased their price target on Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Roth Mkm increased their price target on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Evercore ISI began coverage on Impinj in a research report on Tuesday. They issued an “outperform” rating and a $160.00 price objective for the company. Finally, Susquehanna increased their price objective on Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.44.

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.