Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett Sells 8,000 Shares

Impinj, Inc. (NASDAQ:PI) CRO Jeffrey Dossett sold 8,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $145.77, for a total transaction of $1,166,160.00. Following the sale, the executive now owns 60,850 shares in the company, valued at $8,870,104.50. The sale was disclosed in a filing with the SEC, which is available at this link.

Jeffrey Dossett also recently made the following trade(s):

• On Monday, April 15th, Jeffrey Dossett sold 498 shares of Impinj stock. The shares were sold at an average price of $118.70, for a total transaction of $59,112.60.
• On Monday, March 25th, Jeffrey Dossett sold 1,208 shares of Impinj stock. The shares were sold at an average price of $126.95, for a total transaction of $153,355.60.
• On Monday, March 18th, Jeffrey Dossett sold 3,732 shares of Impinj stock. The stock was sold at an average price of $122.62, for a total transaction of $457,617.84.
• On Friday, March 15th, Jeffrey Dossett sold 3,000 shares of Impinj stock. The stock was sold at an average price of $121.72, for a total transaction of $365,160.00.
• On Friday, February 23rd, Jeffrey Dossett sold 4,858 shares of Impinj stock. The stock was sold at an average price of $101.11, for a total transaction of $491,192.38.

Impinj Price Performance

Shares of NASDAQ PI traded up $1.93 during trading on Tuesday, hitting $159.38. The company had a trading volume of 684,605 shares, compared to its average volume of 428,237. The stock has a fifty day simple moving average of $120.33 and a two-hundred day simple moving average of $96.31. Impinj, Inc. has a fifty-two week low of $48.39 and a fifty-two week high of $160.71. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of -455.37 and a beta of 2.05. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. On average, research analysts expect that Impinj, Inc. will post -0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in Impinj by 16.9% in the first quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock worth $403,000 after acquiring an additional 454 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Impinj by 117.9% during the first 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 period. Wealth Effects LLC boosted its position in shares of Impinj by 1.0% during the first quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock worth $1,945,000 after buying an additional 150 shares during the period. Deltec Asset Management LLC purchased a new position in shares of Impinj during the first quarter worth $584,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Impinj during the first quarter worth $32,000.

Analyst Upgrades and Downgrades

PI has been the topic of a number of research analyst reports. Susquehanna upped their target price on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research note on Tuesday, April 23rd. Needham & Company LLC increased their price objective on shares of Impinj from $130.00 to $160.00 and gave the company a “buy” rating in a research note 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 note on Thursday, March 14th. StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Piper Sandler reiterated an “overweight” rating and set a $150.00 price objective (up from $130.00) on shares of Impinj in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.