Impinj, Inc. (NASDAQ:PI) Insider Cathal G. Phelan Sells 10,000 Shares

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 10,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $147.94, for a total value of $1,479,400.00. Following the transaction, the insider now directly owns 15,801 shares of the company’s stock, valued at approximately $2,337,599.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Impinj Stock Down 3.0 %

Shares of Impinj stock opened at $154.66 on Thursday. Impinj, Inc. has a 1 year low of $48.39 and a 1 year high of $160.71. The stock has a 50-day moving average price of $122.57 and a 200 day moving average price of $97.47. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. The company has a market cap of $4.29 billion, a P/E ratio of -441.89 and a beta of 2.05.

Impinj (NASDAQ:PI) last posted its quarterly earnings results 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. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The company had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. As a group, analysts expect that Impinj, Inc. will post -0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PI shares. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 target price (up from $130.00) on shares of Impinj in a report on Thursday, April 25th. Canaccord Genuity Group upped their target price on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Roth Mkm upped their target price on Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Needham & Company LLC upped their target price on Impinj from $130.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Evercore ISI started coverage on Impinj in a report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.89.

Institutional Investors Weigh In On Impinj

Hedge funds and other institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the 1st quarter worth about $32,000. GAMMA Investing LLC purchased a new stake in shares of Impinj during the 4th quarter worth about $40,000. Headlands Technologies LLC acquired a new position in shares of Impinj during the 4th quarter valued at about $58,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after acquiring an additional 521 shares during the last quarter. Finally, Whittier Trust Co. acquired a new position in shares of Impinj during the 4th quarter valued at about $90,000.

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.