Insider Selling: IMPINJ Inc (NASDAQ:PI) CEO Sells 10,000 Shares of Stock

IMPINJ Inc (NASDAQ:PI) CEO Chris Ph.D. Diorio sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief executive officer now owns 335,478 shares in the company, valued at approximately $6,709,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Chris Ph.D. Diorio also recently made the following trade(s):

  • On Monday, April 22nd, Chris Ph.D. Diorio sold 10,000 shares of IMPINJ stock. The shares were sold at an average price of $20.00, for a total value of $200,000.00.

PI opened at $29.19 on Friday. The firm has a market cap of $614.21 million, a PE ratio of -42.93 and a beta of 2.81. IMPINJ Inc has a 52-week low of $13.25 and a 52-week high of $31.10. The company has a current ratio of 4.79, a quick ratio of 3.11 and a debt-to-equity ratio of 0.17.

IMPINJ (NASDAQ:PI) last released its earnings results on Monday, April 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.15. IMPINJ had a negative return on equity of 12.32% and a negative net margin of 21.33%. The company had revenue of $33.10 million for the quarter, compared to analyst estimates of $31.08 million. During the same period in the prior year, the firm posted ($0.38) EPS. IMPINJ’s quarterly revenue was up 31.9% on a year-over-year basis. Equities analysts forecast that IMPINJ Inc will post -0.4 earnings per share for the current year.

PI has been the subject of a number of research reports. ValuEngine lowered IMPINJ from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 6th. Canaccord Genuity lifted their price objective on IMPINJ from $31.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Zacks Investment Research upgraded IMPINJ from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Friday, May 3rd. Piper Jaffray Companies upped their price objective on IMPINJ from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, BidaskClub raised IMPINJ from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $31.25.

Hedge funds have recently made changes to their positions in the stock. Citigroup Inc. lifted its position in shares of IMPINJ by 14,485.7% during the 4th quarter. Citigroup Inc. now owns 2,042 shares of the company’s stock worth $30,000 after buying an additional 2,028 shares during the last quarter. Quantamental Technologies LLC bought a new position in IMPINJ in the first quarter valued at about $48,000. BNP Paribas Arbitrage SA raised its position in IMPINJ by 48,471.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,400 shares of the company’s stock valued at $57,000 after purchasing an additional 3,393 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in IMPINJ by 363.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,186 shares of the company’s stock valued at $90,000 after purchasing an additional 4,852 shares during the last quarter. Finally, MetLife Investment Advisors LLC raised its position in IMPINJ by 56.7% in the third quarter. MetLife Investment Advisors LLC now owns 13,413 shares of the company’s stock valued at $333,000 after purchasing an additional 4,852 shares during the last quarter. Institutional investors and hedge funds own 65.92% of the company’s stock.

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IMPINJ Company Profile

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.

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