Impinj (PI) Shares Down 6.6% Following Insider Selling

Shares of Impinj, Inc. (NASDAQ:PI) traded down 6.6% on Tuesday following insider selling activity. The company traded as low as $22.80 and last traded at $22.95. 951,500 shares traded hands during trading, an increase of 27% from the average session volume of 749,850 shares. The stock had previously closed at $24.56.

Specifically, CFO Evan Fein sold 3,300 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $25.19, for a total transaction of $83,127.00. Following the transaction, the chief financial officer now directly owns 15,100 shares in the company, valued at approximately $380,369. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Clinton Bybee bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were acquired at an average price of $24.43 per share, for a total transaction of $97,720.00. Following the completion of the purchase, the director now owns 4,417 shares in the company, valued at $107,907.31. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 26,200 shares of company stock worth $895,109. 15.20% of the stock is owned by company insiders.

Several analysts have weighed in on PI shares. Zacks Investment Research downgraded Impinj from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Royal Bank Of Canada reiterated a “buy” rating on shares of Impinj in a research note on Friday, September 29th. KeyCorp reiterated a “hold” rating on shares of Impinj in a research note on Wednesday, August 23rd. BidaskClub upgraded Impinj from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 3rd. Finally, Piper Jaffray Companies downgraded Impinj from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $36.67.

The company has a quick ratio of 4.97, a current ratio of 7.49 and a debt-to-equity ratio of 0.06.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). The company had revenue of $32.60 million during the quarter, compared to analyst estimates of $32.58 million. Impinj had a negative net margin of 5.97% and a negative return on equity of 1.15%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. equities analysts expect that Impinj, Inc. will post -0.41 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of PI. Allianz Asset Management GmbH raised its holdings in Impinj by 661.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 775,896 shares of the company’s stock worth $32,285,000 after purchasing an additional 673,948 shares during the period. Sumitomo Mitsui Asset Management Company LTD acquired a new position in Impinj in the 3rd quarter worth about $26,714,000. Chevy Chase Trust Holdings Inc. raised its holdings in Impinj by 125.4% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 643,979 shares of the company’s stock worth $26,795,000 after purchasing an additional 358,279 shares during the period. State Street Corp raised its holdings in Impinj by 207.6% in the 2nd quarter. State Street Corp now owns 303,827 shares of the company’s stock worth $14,781,000 after purchasing an additional 205,050 shares during the period. Finally, Hood River Capital Management LLC raised its holdings in Impinj by 30.9% in the 2nd quarter. Hood River Capital Management LLC now owns 731,965 shares of the company’s stock worth $35,610,000 after purchasing an additional 172,879 shares during the period. 82.95% of the stock is owned by institutional investors and hedge funds.

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About Impinj

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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