Insider Selling: IMPINJ Inc (PI) CFO Sells 9,000 Shares of Stock
IMPINJ Inc (NYSE:PI) CFO Evan Fein sold 9,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $38.00, for a total value of $342,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at $581,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Evan Fein also recently made the following trade(s):
- On Friday, June 16th, Evan Fein sold 10,000 shares of IMPINJ stock. The stock was sold at an average price of $53.19, for a total value of $531,900.00.
Shares of IMPINJ Inc (NYSE:PI) traded up 1.47% during midday trading on Wednesday, hitting $38.62. The stock had a trading volume of 379,254 shares. The firm’s market cap is $805.61 million. IMPINJ Inc has a 12-month low of $23.55 and a 12-month high of $60.85. The company’s 50-day moving average price is $40.89 and its 200-day moving average price is $39.63.
IMPINJ (NYSE:PI) last released its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The business had revenue of $34.10 million during the quarter, compared to analysts’ expectations of $33.41 million. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue was up 31.2% on a year-over-year basis. Equities research analysts forecast that IMPINJ Inc will post $0.05 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in PI. BNP Paribas Arbitrage SA lifted its stake in shares of IMPINJ by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after buying an additional 1,942 shares during the period. American International Group Inc. bought a new stake in shares of IMPINJ in the first quarter valued at about $112,000. First Washington CORP bought a new stake in shares of IMPINJ in the first quarter valued at about $122,000. Nordea Investment Management AB bought a new stake in shares of IMPINJ in the first quarter valued at about $127,000. Finally, ClariVest Asset Management LLC bought a new stake in shares of IMPINJ in the first quarter valued at about $127,000.
A number of equities analysts have recently weighed in on PI shares. Canaccord Genuity reissued a “buy” rating and issued a $50.00 price target (down from $57.00) on shares of IMPINJ in a report on Friday, August 4th. Needham & Company LLC boosted their price target on IMPINJ from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Dougherty & Co started coverage on IMPINJ in a report on Wednesday, August 23rd. They issued a “buy” rating and a $62.00 price target for the company. Morgan Stanley cut IMPINJ from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $40.00 to $51.00 in a report on Monday, June 19th. Finally, KeyCorp cut IMPINJ to a “hold” rating in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $47.63.
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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