On July 3, 2023, Cathal Phelan, Chief Innovation Officer of Impinj Inc (PI, Financial), sold 1042 shares of the company. This move is part of a larger trend of insider selling at Impinj Inc, which we will explore in this article.
Who is Cathal Phelan?
Cathal Phelan is the Chief Innovation Officer at Impinj Inc. He has been with the company for several years and has played a significant role in its growth and development. Phelan's role involves overseeing the company's innovation strategies and ensuring that they align with the company's overall goals and objectives.
About Impinj Inc
Impinj Inc is a leading provider of RAIN RFID solutions. The company's platform allows businesses to wirelessly connect billions of everyday items such as apparel, medical supplies, automobile parts, drivers' licenses, food and luggage to the internet, thereby enabling the physical world to join the digital universe. Impinj's goal is to give each of these items a unique identity, location and authenticity it can share, which can lead to new insights, automation and experiences, and ultimately, a smarter, more connected world.
Insider Sell Analysis
Over the past year, Cathal Phelan has sold a total of 33971 shares and has not purchased any shares. This recent sale of 1042 shares is part of this larger trend.
The insider transaction history for Impinj Inc shows a total of 3 insider buys and 94 insider sells over the past year. This suggests a trend of more insider selling than buying, which could be a signal to investors about the company's future prospects.
Stock Price and Valuation
On the day of Cathal Phelan’s recent sell, shares of Impinj Inc were trading for $90.14 apiece, giving the stock a market cap of $2.302 billion.
With a price of $90.14 and a GuruFocus Value of $103.80, Impinj Inc has a price-to-GF-Value ratio of 0.87. This means the stock is modestly undervalued based on its GF Value. The GF Value is an intrinsic value estimate developed by GuruFocus that is calculated based on historical multiples, a GuruFocus adjustment factor, and future estimates of business performance from Morningstar analysts.
In conclusion, while the insider selling trend at Impinj Inc might raise some eyebrows, the stock's current valuation suggests that it could still be a good investment opportunity. As always, investors should do their own research and consider their own risk tolerance before making investment decisions.
