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

Impinj, Inc. (NASDAQ:PI) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $224.60.

Several research analysts have recently weighed in on PI shares. Piper Sandler reiterated an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Evercore ISI restated an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Needham & Company LLC lifted their price objective on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Cantor Fitzgerald lifted their price target on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th.

Impinj Stock Down 1.4 %

Impinj stock opened at $148.06 on Wednesday. The firm has a market capitalization of $4.19 billion, a PE ratio of 166.36 and a beta of 1.80. Impinj has a 52 week low of $78.17 and a 52 week high of $239.88. The firm’s 50-day simple moving average is $195.62 and its 200 day simple moving average is $177.92.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same quarter in the prior year, the company earned ($0.36) EPS. Impinj’s revenue was up 46.5% on a year-over-year basis. On average, research analysts expect that Impinj will post 0.4 EPS for the current fiscal year.

Insider Activity at Impinj

In related news, CRO Jeffrey Dossett sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the transaction, the executive now owns 65,294 shares in the company, valued at $11,829,313.98. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sylebra Capital Llc sold 22,373 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $195.00, for a total value of $4,362,735.00. Following the transaction, the insider now directly owns 2,999,175 shares of the company’s stock, valued at approximately $584,839,125. The trade was a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 655,674 shares of company stock worth $131,623,305 in the last three months. 51.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Impinj

Institutional investors and hedge funds have recently modified their holdings of the stock. National Bank of Canada FI purchased a new position in Impinj during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC grew its holdings in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Impinj in the 3rd quarter worth about $54,000. SouthState Corp acquired a new stake in Impinj during the 2nd quarter worth about $94,000. Finally, nVerses Capital LLC grew its stake in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after acquiring an additional 300 shares in the last quarter.

About Impinj

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.