Impinj, Inc. (NASDAQ:PI) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Impinj, Inc. (NASDAQ:PI) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $143.10.

Several research analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Evercore ISI initiated coverage on shares of Impinj in a report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 target price for the company. Susquehanna increased their price target on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a report on Tuesday, April 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price objective (up previously from $130.00) on shares of Impinj in a report on Thursday, April 25th. Finally, The Goldman Sachs Group lowered shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 target price on the stock. in a research note on Monday, May 20th.

Impinj Trading Up 1.7 %

NASDAQ PI opened at $150.96 on Wednesday. Impinj has a 12-month low of $48.39 and a 12-month high of $175.41. The company has a fifty day simple moving average of $154.84 and a two-hundred day simple moving average of $122.06. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. The stock has a market cap of $4.18 billion, a P/E ratio of -431.31 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The business had revenue of $76.83 million for the quarter, compared to the consensus estimate of $73.57 million. On average, analysts forecast that Impinj will post 0.02 earnings per share for the current year.

Insider Activity at Impinj

In other news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $153.10, for a total transaction of $153,100,000.00. Following the completion of the transaction, the insider now directly owns 3,197,352 shares in the company, valued at approximately $489,514,591.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $153.10, for a total value of $153,100,000.00. Following the transaction, the insider now directly owns 3,197,352 shares in the company, valued at approximately $489,514,591.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cathal G. Phelan sold 708 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $166.99, for a total transaction of $118,228.92. Following the transaction, the insider now directly owns 16,468 shares of the company’s stock, valued at approximately $2,749,991.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,088,088 shares of company stock worth $166,194,846. Insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

Several hedge funds have recently made changes to their positions in PI. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the first quarter worth $32,000. GAMMA Investing LLC purchased a new stake in Impinj during the 4th quarter worth about $40,000. Headlands Technologies LLC acquired a new stake in Impinj in the 4th quarter valued at about $58,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Impinj by 117.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after buying an additional 521 shares during the period. Finally, Whittier Trust Co. purchased a new stake in shares of Impinj during the fourth quarter worth approximately $90,000.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.