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Chris Diorio, the Chief Executive Officer of Impinj Inc . (NASDAQ:PI), recently executed several stock transactions, according to a filing with the Securities and Exchange Commission. The transaction comes as the stock trades near its 52-week low of $96.69, having declined about 41% over the past six months according to InvestingPro data. On February 21, Diorio sold a total of 8,334 shares of Impinj’s common stock, generating proceeds of approximately $823,239. The shares were sold at prices ranging from $97.74 to $100.25 per share.
These sales were made to cover tax withholding obligations related to the vesting of performance restricted stock units (PSUs) that Diorio was granted in March 2022. The PSUs vested after meeting certain performance criteria, resulting in the acquisition of 20,750 shares on February 20, 2025, at no cost to Diorio.
Following these transactions, Diorio holds 354,076 shares directly and an additional 487,494 shares indirectly through DFT L.L.C. For deeper insights into insider trading patterns and comprehensive financial analysis, including 17 additional ProTips, visit InvestingPro.
In other recent news, Impinj reported fourth-quarter earnings per share of $0.48, surpassing analyst expectations of $0.40, while revenue slightly missed predictions at $91.6 million compared to the anticipated $92.76 million. The company also maintained its guidance for fourth-quarter revenue between $91 million and $94 million and adjusted EBITDA ranging from $13.6 million to $15.1 million, aligning with analyst estimates. However, Impinj’s guidance for the first quarter of 2025 revealed a significant shortfall, with expected revenue between $70 million and $73 million, far below the expected $93.3 million, and estimated EPS between $0.06 and $0.11, compared to the consensus of $0.42.
Analyst firms responded to the guidance with revised price targets; Needham adjusted its target to $130 while maintaining a Buy rating, and Piper Sandler lowered its target to $140, keeping an Overweight rating. Both firms cited inventory challenges as a contributing factor to the lowered guidance. Despite these challenges, Needham maintains a positive long-term outlook for Impinj, anticipating benefits from a multi-year RFID adoption cycle. Piper Sandler also expressed optimism, suggesting the current dip presents a buying opportunity as the inventory issue is addressed. Impinj’s CEO highlighted the company’s competitive advantages and strong 2024 financial results, despite acknowledging the headwinds for early 2025.
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