Tom A. Alberg Sells 12,000 Shares of IMPINJ Inc (NASDAQ:PI) Stock

IMPINJ Inc (NASDAQ:PI) Director Tom A. Alberg sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $34.45, for a total value of $413,400.00. Following the completion of the sale, the director now owns 87,269 shares of the company’s stock, valued at approximately $3,006,417.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of PI stock opened at $34.45 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.08 and a current ratio of 5.90. The stock has a 50 day moving average price of $31.88 and a two-hundred day moving average price of $31.19. IMPINJ Inc has a fifty-two week low of $13.25 and a fifty-two week high of $40.24. The company has a market capitalization of $782.46 million, a P/E ratio of -50.66 and a beta of 2.67.

IMPINJ (NASDAQ:PI) last released its earnings results on Monday, November 4th. The company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.10. IMPINJ had a negative return on equity of 1.81% and a negative net margin of 14.52%. The business had revenue of $40.76 million for the quarter, compared to the consensus estimate of $38.21 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, equities analysts predict that IMPINJ Inc will post -0.62 earnings per share for the current year.

Several analysts have weighed in on PI shares. Zacks Investment Research upgraded IMPINJ from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, October 9th. ValuEngine upgraded IMPINJ from a “sell” rating to a “hold” rating in a research report on Friday. Piper Jaffray Companies boosted their price objective on IMPINJ from $32.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. TheStreet upgraded IMPINJ from a “d” rating to a “c-” rating in a research report on Tuesday, July 30th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $42.00 price objective (up previously from $39.00) on shares of IMPINJ in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $38.75.

Institutional investors have recently added to or reduced their stakes in the business. Hussman Strategic Advisors Inc. bought a new stake in IMPINJ in the third quarter worth $31,000. Oppenheimer Asset Management Inc. bought a new position in shares of IMPINJ during the second quarter valued at $34,000. Bank of Montreal Can bought a new position in shares of IMPINJ during the second quarter valued at $36,000. Tower Research Capital LLC TRC bought a new position in shares of IMPINJ during the third quarter valued at $61,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of IMPINJ by 215.7% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,169 shares of the company’s stock valued at $64,000 after purchasing an additional 1,482 shares in the last quarter. 70.17% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Cost of Equity For A Business, Investors

Insider Buying and Selling by Quarter for IMPINJ (NASDAQ:PI)

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