Impinj, Inc. (NASDAQ:PI) CFO Cary Baker Sells 299 Shares of Stock

Posted by Jim Brewer on Mar 18th, 2023

Impinj, Inc. (NASDAQ:PI – Get Rating) CFO Cary Baker sold 299 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $129.75, for a total transaction of $38,795.25. Following the transaction, the chief financial officer now owns 43,539 shares in the company, valued at approximately $5,649,185.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Cary Baker also recently made the following trade(s):

On Monday, February 27th, Cary Baker sold 5,202 shares of Impinj stock. The stock was sold at an average price of $127.72, for a total transaction of $664,399.44.
On Friday, February 10th, Cary Baker sold 5,000 shares of Impinj stock. The stock was sold at an average price of $120.54, for a total value of $602,700.00.
On Friday, January 13th, Cary Baker sold 404 shares of Impinj stock. The stock was sold at an average price of $120.57, for a total value of $48,710.28.

Impinj Trading Down 2.1 %

Shares of PI stock traded down $2.69 on Friday, reaching $126.13. The company had a trading volume of 515,760 shares, compared to its average volume of 503,268. The company has a current ratio of 6.49, a quick ratio of 5.40 and a debt-to-equity ratio of 17.97. The stock has a market cap of $3.30 billion, a PE ratio of -131.39, a PEG ratio of 40.35 and a beta of 2.25. The company has a 50-day moving average of $127.96 and a 200-day moving average of $110.45. Impinj, Inc. has a 12 month low of $39.74 and a 12 month high of $144.90.

Impinj (NASDAQ:PI – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Impinj had a negative return on equity of 62,026.59% and a negative net margin of 9.43%. The company had revenue of $76.59 million during the quarter, compared to analysts’ expectations of $76.20 million. On average, equities analysts forecast that Impinj, Inc. will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

Several institutional investors and hedge funds have recently modified their holdings of PI. UBS Asset Management Americas Inc. grew its position in shares of Impinj by 2,886.2% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 582,168 shares of the company’s stock valued at $46,591,000 after purchasing an additional 562,673 shares during the period. Toronado Partners LLC grew its position in shares of Impinj by 76.2% in the 2nd quarter. Toronado Partners LLC now owns 752,979 shares of the company’s stock valued at $44,177,000 after purchasing an additional 325,756 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Impinj by 101.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 450,844 shares of the company’s stock valued at $36,081,000 after purchasing an additional 226,794 shares during the period. Invesco Ltd. grew its position in shares of Impinj by 16.5% in the 1st quarter. Invesco Ltd. now owns 1,189,985 shares of the company’s stock valued at $75,610,000 after purchasing an additional 168,597 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its position in shares of Impinj by 428.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 203,338 shares of the company’s stock valued at $22,200,000 after purchasing an additional 164,838 shares during the period. 97.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Jefferies Financial Group boosted their price objective on Impinj from $112.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, January 12th. Needham & Company LLC boosted their price objective on Impinj from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Piper Sandler boosted their price objective on Impinj from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Canaccord Genuity Group boosted their price objective on Impinj from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Finally, The Goldman Sachs Group boosted their price objective on Impinj from $111.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, February 10th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.75.

Impinj Company Profile

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IImpinj, Inc engages in the development and sale of radio frequency identification solutions. The company was founded by Christopher Diorio in April 2000 and is headquartered in Seattle, WA.