Cary Baker Sells 1,062 Shares of Impinj, Inc. (NASDAQ:PI) Stock

Impinj, Inc. (NASDAQ:PI) CFO Cary Baker sold 1,062 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $127.61, for a total value of $135,521.82. Following the sale, the chief financial officer now owns 67,384 shares in the company, valued at approximately $8,598,872.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 18th, Cary Baker sold 306 shares of Impinj stock. The shares were sold at an average price of $123.55, for a total value of $37,806.30.
• On Friday, February 23rd, Cary Baker sold 4,829 shares of Impinj stock. The shares were sold at an average price of $101.17, for a total value of $488,549.93.
• On Monday, February 26th, Cary Baker sold 1,455 shares of Impinj stock. The shares were sold at an average price of $103.68, for a total value of $150,854.40.
• On Wednesday, February 14th, Cary Baker sold 20,000 shares of Impinj stock. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00.
• On Tuesday, January 16th, Cary Baker sold 278 shares of Impinj stock. The shares were sold at an average price of $81.19, for a total value of $22,570.82.

Impinj Stock Down 1.1 %

Shares of PI stock traded down $1.40 during trading hours on Tuesday, hitting $126.59. 234,217 shares of the company’s stock traded hands, compared to its average volume of 409,729. The stock’s fifty day simple moving average is $108.49 and its two-hundred day simple moving average is $84.44. Impinj, Inc. has a 12-month low of $48.39 and a 12-month high of $142.70. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -78.14 and a beta of 2.04. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26.

Impinj (NASDAQ:PI) last released its earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The firm had revenue of $70.65 million during the quarter, compared to analyst estimates of $67.10 million. On average, analysts expect that Impinj, Inc. will post -0.62 EPS for the current year.

Hedge Funds Weigh In On Impinj

Large investors have recently made changes to their positions in the business. Sylebra Capital LLC purchased a new position in Impinj in the 3rd quarter worth approximately $217,290,000. Capital International Investors bought a new stake in Impinj in the 4th quarter worth approximately $68,211,000. Fred Alger Management LLC grew its position in Impinj by 249.6% in the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock worth $43,802,000 after purchasing an additional 568,301 shares during the period. Westfield Capital Management Co. LP grew its position in Impinj by 40.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock worth $56,260,000 after purchasing an additional 292,470 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its position in shares of Impinj by 153.3% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 482,700 shares of the company’s stock valued at $43,274,000 after acquiring an additional 292,158 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Roth Mkm raised their target price on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Canaccord Genuity Group raised their target price on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. The Goldman Sachs Group raised their target price on Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. StockNews.com raised Impinj to a “sell” rating in a research note on Friday, February 9th. Finally, Needham & Company LLC raised their price objective on shares of Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat, Impinj currently has a consensus rating of “Hold” and an average target price of $114.38.

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.