Cathal G. Phelan, the Chief Innovation Officer of Impinj Inc (NASDAQ:PI), has recently engaged in transactions involving the company's stock, according to the latest SEC filings. On May 21, 2024, Phelan sold a total of 708 shares of common stock at an average price of $166.9874, amounting to a total value of approximately $118,227.
The transactions were executed in multiple tranches with prices ranging from $166.90 to $167.19. The sales were part of non-discretionary transactions to cover tax withholding obligations related to the settlement of an award of restricted stock units. Following these sales, Phelan's direct ownership in the company's common stock decreased to 16,468 shares.
Alongside the sale, Phelan also acquired 1,375 shares of common stock on May 20, 2024, at no cost, which was associated with the vesting of restricted stock units. These units represent a contingent right to receive shares of Impinj common stock and are part of a grant that vests over time, contingent on continued service to the company.
Investors and market watchers often monitor insider transactions as they provide insights into executives' perspectives on their company's stock value. Impinj Inc, headquartered in Seattle, Washington, operates in the electronic components sector and specializes in radio-frequency identification (RFID) solutions and technologies.
InvestingPro Insights
Amid the recent insider transactions by Cathal G. Phelan, Chief Innovation Officer of Impinj Inc (NASDAQ:PI), the company's financial health and stock performance are key factors for investors to consider. According to InvestingPro data, Impinj Inc has a market capitalization of $4.65 billion, reflecting its standing in the electronic components sector. The company's revenue for the last twelve months as of Q1 2024 stood at $298.47 million, with a modest growth rate of 2.72%. Despite this growth, the company's revenue declined by 10.56% in Q1 2024 compared to the previous quarter.
InvestingPro Tips reveal that Impinj Inc's stock price movements have been quite volatile, which aligns with the 95.7% price percentage of its 52-week high and the significant returns over the last six months, with a 106.36% total price return. This volatility and performance trend may interest traders looking for dynamic market movements. Additionally, analysts have revised their earnings upwards for the upcoming period, indicating a potential positive outlook on the company's financial prospects.
For investors seeking more in-depth analysis and additional InvestingPro Tips, there are further insights available, including the company's valuation multiples and profitability predictions. With the use of the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable insights.
For those closely following Impinj Inc, it is noteworthy that the company is expected to announce its next earnings on July 24, 2024. The anticipation around this date could influence stock performance as investors gauge the company's financial trajectory. With 6 additional InvestingPro Tips available, investors can gain a more comprehensive understanding of Impinj Inc's financial health and market position.
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