Cathal G. Phelan Sells 708 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 708 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $166.99, for a total transaction of $118,228.92. Following the completion of the sale, the insider now directly owns 16,468 shares in the company, valued at $2,749,991.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Impinj Trading Up 3.3 %

Shares of PI stock opened at $173.33 on Thursday. The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $175.41. The firm’s 50 day moving average is $139.37 and its 200 day moving average is $108.84.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (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 the consensus estimate of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. On average, equities analysts expect that Impinj, Inc. will post 0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Impinj

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Impinj by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock worth $462,000 after acquiring an additional 115 shares during the period. Wealth Effects LLC raised its holdings in Impinj by 1.0% in the 1st quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock worth $1,945,000 after purchasing an additional 150 shares during the period. Arizona State Retirement System lifted its position in Impinj by 3.3% during the third quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock valued at $355,000 after purchasing an additional 205 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in Impinj during the first quarter valued at about $32,000. Finally, ProShare Advisors LLC increased its position in Impinj by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,194 shares of the company’s stock worth $539,000 after buying an additional 330 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PI. The Goldman Sachs Group cut Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price target on the stock. in a research report on Monday. Needham & Company LLC raised their price target on Impinj from $160.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price target (up previously from $130.00) on shares of Impinj in a research report on Thursday, April 25th. Canaccord Genuity Group increased their price objective 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. Finally, StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.10.

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.