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

Shares of Impinj, Inc. (NASDAQ:PI) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $224.60.

PI has been the subject of several research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Cantor Fitzgerald boosted their price objective on Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price objective on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, October 25th.

Insider Buying and Selling at Impinj

In other news, CRO Jeffrey Dossett sold 488 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $237.84, for a total transaction of $116,065.92. Following the sale, the executive now directly owns 65,294 shares of the company’s stock, valued at approximately $15,529,524.96. This represents a 0.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 1,219 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $237.82, for a total value of $289,902.58. Following the completion of the transaction, the chief executive officer now owns 294,438 shares in the company, valued at $70,023,245.16. The trade was a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 655,691 shares of company stock valued at $131,398,769 in the last ninety days. 51.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PI. Diversified Trust Co grew its position in Impinj by 11.9% in the fourth quarter. Diversified Trust Co now owns 2,251 shares of the company’s stock valued at $327,000 after acquiring an additional 240 shares during the last quarter. Nordea Investment Management AB bought a new position in Impinj in the fourth quarter valued at about $3,341,000. Principal Financial Group Inc. grew its position in Impinj by 4,013.7% in the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company’s stock valued at $27,202,000 after acquiring an additional 122,579 shares during the last quarter. Virtu Financial LLC bought a new position in Impinj in the third quarter valued at about $1,749,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Impinj in the third quarter valued at about $846,000.

Impinj Stock Down 4.5 %

Shares of PI stock opened at $143.62 on Friday. The stock has a 50-day moving average price of $169.26 and a 200 day moving average price of $176.92. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 161.37 and a beta of 1.88. Impinj has a 12 month low of $78.17 and a 12 month high of $239.88.

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

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.