Impinj, Inc. (NASDAQ:PI) Receives $224.60 Consensus PT from Analysts

Impinj, Inc. (NASDAQ:PI - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $224.60.

Several research analysts have recently weighed in on the company. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research report on Friday, October 25th. Susquehanna raised their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a "positive" rating in a research note on Monday, October 21st. Needham & Company LLC lifted their price objective on shares of Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, October 24th. The Goldman Sachs Group increased their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Finally, Lake Street Capital lifted their price target on shares of Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research note on Thursday, October 24th.

Insiders Place Their Bets

In related news, CFO Cary Baker sold 499 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $72,883.94. Following the completion of the transaction, the chief financial officer now owns 71,107 shares of the company's stock, valued at $10,385,888.42. This represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cathal G. Phelan sold 210 shares of the business's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the sale, the insider now directly owns 6,979 shares in the company, valued at approximately $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 655,691 shares of company stock worth $131,398,769 over the last ninety days. Corporate insiders own 51.00% of the company's stock.

Hedge Funds Weigh In On Impinj

Several institutional investors and hedge funds have recently added to or reduced their stakes in PI. State Street Corp raised its position in shares of Impinj by 25.7% during the third quarter. State Street Corp now owns 1,078,676 shares of the company's stock worth $233,555,000 after acquiring an additional 220,776 shares during the last quarter. Renaissance Technologies LLC bought a new position in Impinj during the 2nd quarter worth approximately $30,116,000. Principal Financial Group Inc. lifted its position in shares of Impinj by 4,013.7% in the 3rd quarter. Principal Financial Group Inc. now owns 125,633 shares of the company's stock worth $27,202,000 after purchasing an additional 122,579 shares during the period. Wellington Management Group LLP bought a new stake in shares of Impinj in the 3rd quarter valued at $24,771,000. Finally, AXA S.A. bought a new stake in shares of Impinj in the 2nd quarter valued at $11,574,000.

Impinj Stock Performance

PI traded down $6.69 during midday trading on Friday, reaching $143.62. 489,546 shares of the company were exchanged, compared to its average volume of 389,955. The stock has a market capitalization of $4.06 billion, a P/E ratio of 161.37 and a beta of 1.88. Impinj has a one year low of $78.17 and a one year high of $239.88. The stock's 50-day simple moving average is $169.26 and its 200 day simple moving average is $177.09.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analysts' expectations of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business's quarterly revenue was up 46.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.36) earnings per share. On average, research analysts anticipate that Impinj will post 0.4 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.