Impinj, Inc. (NASDAQ:PI) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Impinj, Inc. (NASDAQ:PI) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $214.30.

PI has been the topic of several recent research reports. Lake Street Capital increased their price target on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI reissued an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Cantor Fitzgerald lifted their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price objective on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th.

Insider Activity

In related news, major shareholder Sylebra Capital Llc sold 250,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $203.00, for a total transaction of $50,750,000.00. Following the completion of the transaction, the insider now directly owns 2,222,352 shares in the company, valued at $451,137,456. The trade was a 10.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the transaction, the insider now owns 6,979 shares of the company’s stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 355,681 shares of company stock valued at $71,579,446 over the last ninety days. 51.00% of the stock is currently owned by insiders.

Institutional Trading of Impinj

Institutional investors have recently modified their holdings of the stock. National Bank of Canada FI purchased a new stake in shares of Impinj in the 3rd quarter valued at approximately $30,000. Farther Finance Advisors LLC lifted its holdings in Impinj by 1,084.6% in the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after acquiring an additional 141 shares during the last quarter. IFP Advisors Inc grew its position in Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after acquiring an additional 198 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the third quarter worth $54,000. Finally, Spire Wealth Management purchased a new stake in Impinj in the fourth quarter valued at $87,000.

Impinj Stock Up 0.4 %

PI opened at $127.06 on Thursday. The company has a market capitalization of $3.59 billion, a PE ratio of 142.76 and a beta of 1.88. The firm has a 50-day simple moving average of $149.90 and a two-hundred day simple moving average of $173.40. Impinj has a 52 week low of $97.77 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. As a group, sell-side analysts expect that Impinj will post 0.44 earnings per share for the current year.

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.