Impinj, Inc. (NASDAQ:PI) Given Consensus Rating of “Buy” by Brokerages

Shares of Impinj, Inc. (NASDAQ:PI) have been given an average rating of “Buy” by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $183.44.

A number of equities research analysts recently issued reports on PI shares. Piper Sandler lowered their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. The Goldman Sachs Group decreased their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. Finally, Susquehanna decreased their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd.

Impinj Price Performance

PI opened at $92.86 on Friday. The company has a market capitalization of $2.65 billion, a PE ratio of 68.28 and a beta of 1.98. Impinj has a fifty-two week low of $84.17 and a fifty-two week high of $239.88. The business has a 50-day moving average of $106.35 and a 200-day moving average of $157.62.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. On average, equities research analysts expect that Impinj will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Chris Ph.D. Diorio sold 841 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.02, for a total transaction of $118,597.82. Following the completion of the transaction, the chief executive officer now directly owns 333,856 shares of the company’s stock, valued at approximately $47,080,373.12. This trade represents a 0.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jeffrey Dossett sold 378 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.05, for a total transaction of $53,316.90. Following the completion of the sale, the executive now directly owns 67,052 shares in the company, valued at approximately $9,457,684.60. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,704 shares of company stock worth $1,925,748 in the last ninety days. Insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PI. Quest Partners LLC grew its stake in Impinj by 8,454.5% during the third quarter. Quest Partners LLC now owns 941 shares of the company’s stock worth $204,000 after buying an additional 930 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Impinj by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock worth $41,840,000 after acquiring an additional 6,232 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Impinj by 7.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,736 shares of the company’s stock worth $2,974,000 after acquiring an additional 983 shares during the last quarter. FMR LLC increased its holdings in Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after purchasing an additional 60,461 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in Impinj by 15.4% in the 3rd quarter. D.A. Davidson & CO. now owns 2,855 shares of the company’s stock valued at $618,000 after purchasing an additional 380 shares during 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.