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

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

Impinj Stock Performance

NASDAQ PI opened at $154.66 on Thursday. The company’s 50 day simple moving average is $122.57 and its two-hundred day simple moving average is $97.47. The stock has a market capitalization of $4.29 billion, a PE ratio of -441.89 and a beta of 2.05. Impinj, Inc. has a 1 year low of $48.39 and a 1 year high of $160.71. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87.

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

Hedge Funds Weigh In On Impinj

A number of institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Impinj by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after buying an additional 7,247 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Impinj by 16.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock worth $403,000 after buying an additional 454 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Impinj by 117.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after buying an additional 521 shares during the last quarter. Wealth Effects LLC grew its holdings in shares of Impinj by 1.0% during the 1st quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock valued at $1,945,000 after purchasing an additional 150 shares during the last quarter. Finally, Deltec Asset Management LLC bought a new position in shares of Impinj during the 1st quarter valued at $584,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Roth Mkm upped their price target on shares of Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Evercore ISI assumed coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price target on the stock. Susquehanna upped their price target on shares of Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research note on Tuesday, April 23rd. Finally, Needham & Company LLC increased their target price on shares of Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.