🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Impinj's chief revenue officer sells $116,065 in stock

Published 16/10/2024, 00:46
PI
-

Jeffrey Dossett, Chief Revenue Officer of Impinj Inc. (NASDAQ:PI), recently executed a series of stock transactions involving the company's common stock. On October 12, Dossett acquired 1,250 shares at no cost through the vesting of restricted stock units. Following this, on October 14, he sold a total of 488 shares in multiple transactions at prices ranging from $237.48 to $239.00, amounting to $116,065.

These sales were part of non-discretionary transactions to cover tax withholding obligations related to the vesting of restricted stock units. After these transactions, Dossett holds 65,294 shares of Impinj common stock.

In other recent news, Impinj Inc. reported strong financial results, with revenue exceeding $100 million and adjusted EBITDA surpassing $25 million. The company anticipates a 42% year-over-year increase in product revenue for the third quarter. Several financial services firms, including Piper Sandler, Lake Street Capital Markets, and Evercore ISI, have raised their price targets for Impinj, reflecting a positive outlook for the company's future performance.

In addition to its financial achievements, Impinj announced leadership changes, with Gahan Richardson becoming Executive Vice President for products and platform, and Alberto Pesavento assuming the role of CTO. The company is also increasing wafer orders to meet growing product demand. These recent developments underscore Impinj's confidence in its market position and long-term margin targets.

Analysts at Piper Sandler and Lake Street Capital Markets highlighted strong fundamentals and the potential for continued growth in Impinj's end markets. Evercore ISI also increased its 2025 EPS estimate for Impinj to $3.14, reflecting the company's resilience and potential for continued growth. These insights provide valuable context for investors interested in Impinj's recent performance and future prospects.

InvestingPro Insights

Impinj Inc. (NASDAQ:PI) has been experiencing significant market momentum, as evidenced by its recent stock performance and financial metrics. According to InvestingPro data, the company's stock has shown remarkable strength, with a 342.68% price total return over the past year and a 96.84% return over the last six months. This aligns with the InvestingPro Tip that highlights the stock's "Strong return over the last month" and "Large price uptick over the last six months."

The company's market capitalization stands at $6.57 billion, reflecting investor confidence in its growth potential. However, it's worth noting that Impinj is trading at a high earnings multiple, with a P/E ratio of 512.36. This valuation metric suggests that investors are pricing in significant future growth expectations, which is consistent with the InvestingPro Tip indicating that "Net income is expected to grow this year."

Despite the strong market performance, investors should be aware that the stock's RSI suggests it may be in overbought territory, as pointed out by another InvestingPro Tip. This could imply that the stock might be due for a potential correction in the short term.

For those interested in a more comprehensive analysis, InvestingPro offers 17 additional tips for Impinj Inc., providing a deeper understanding of the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.