Still betting on Nvidia? Our AI picked this stock instead; it’s up 96%+ THIS MONTH
SEATTLE—Chris Diorio, Ph.D., the CEO of Impinj Inc . (NASDAQ:PI), recently executed several transactions involving the company's common stock, according to a recent SEC filing. On January 13, Diorio sold a total of 841 shares, generating approximately $118,599. The shares were sold at prices ranging from $140.63 to $141.33. According to InvestingPro data, Impinj's stock has shown significant volatility, delivering an impressive 83% return over the past year despite a recent three-month decline.
These transactions were part of non-discretionary sales to cover tax withholding obligations related to the settlement of restricted stock units (RSUs). Following these sales, Diorio holds 333,856 shares directly and an additional 487,494 shares indirectly through DFT L.L.C. The company currently trades at elevated multiples, with InvestingPro analysis indicating the stock is slightly overvalued relative to its Fair Value estimate. Eight analysts have recently revised their earnings expectations upward for the upcoming period.
Additionally, on January 12, Diorio acquired 3,125 common shares at no cost through the vesting of RSUs. These RSUs were part of a grant awarded in April 2021, with a portion of the units vesting quarterly. With a market capitalization of $4.2 billion and strong financial health indicators, Impinj demonstrates solid fundamentals. For deeper insights into Impinj's valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with detailed analysis and actionable intelligence.
In other recent news, Impinj, Inc. has maintained its revenue and adjusted EBITDA guidance for Q4 2024, predicting revenue between $91 million and $94 million, and adjusted EBITDA ranging from $13.6 million to $15.1 million. In addition, several analyst firms have revised their stock target prices for the company. Lake Street Capital Markets raised its price target to $251, Needham increased its target to $245, Cantor Fitzgerald set a new target of $260, and Evercore ISI raised its price target from $205 to $270.
Impinj recently reported Q3 earnings per share (EPS) of $0.56, exceeding estimates, and revenue of $95.2 million, marking a 46% increase year-over-year. The adjusted EBITDA was reported at $17.3 million, reflecting an 18.2% margin. Analyst firms such as Lake Street Capital Markets and Needham have expressed confidence in Impinj's sustainable growth and the increasing earnings leverage within the company's financial model.
These recent developments reflect the effective execution of Impinj's business strategies and a positive outlook on the industry's conditions. The robust execution of Impinj's business plan and the encouraging remarks made by its management team have been highlighted by these firms. These are the latest updates surrounding Impinj's performance and financial health.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.