Impinj, Inc. (NASDAQ:PI) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Impinj, Inc. (NASDAQ:PI - Get Free Report) have been given an average recommendation of "Moderate Buy" by the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $224.60.

Several equities analysts have weighed in on the company. Susquehanna lifted their target price on Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a research report on Monday, October 21st. Piper Sandler reaffirmed an "overweight" rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th. Evercore ISI reissued an "outperform" rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Lake Street Capital upped their price objective on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a report on Friday, October 25th.

Insider Transactions at Impinj

In related news, insider Cathal G. Phelan sold 209 shares of the company's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the completion of the sale, the insider now directly owns 17,647 shares of the company's stock, valued at $3,690,870.05. This represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cary Baker sold 366 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.83, for a total value of $87,045.78. Following the transaction, the chief financial officer now owns 71,096 shares in the company, valued at $16,908,761.68. This represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 655,674 shares of company stock valued at $131,623,305. Corporate insiders own 51.00% of the company's stock.

Institutional Trading of Impinj

A number of hedge funds have recently added to or reduced their stakes in PI. FMR LLC increased its stake in shares of Impinj by 1.5% during the third quarter. FMR LLC now owns 4,217,403 shares of the company's stock worth $913,152,000 after acquiring an additional 60,461 shares during the period. State Street Corp increased its position in Impinj by 25.7% during the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company's stock worth $233,555,000 after purchasing an additional 220,776 shares during the period. Geode Capital Management LLC raised its stake in shares of Impinj by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 542,924 shares of the company's stock worth $117,576,000 after buying an additional 7,676 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Impinj by 15.0% in the 3rd quarter. Jennison Associates LLC now owns 239,140 shares of the company's stock valued at $51,779,000 after buying an additional 31,269 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Impinj by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company's stock valued at $41,840,000 after buying an additional 6,232 shares in the last quarter.

Impinj Trading Down 1.4 %

Shares of PI opened at $148.06 on Wednesday. The company's 50-day moving average price is $194.11 and its 200 day moving average price is $177.81. Impinj has a 12-month low of $78.17 and a 12-month high of $239.88. The firm has a market cap of $4.19 billion, a P/E ratio of 166.36 and a beta of 1.80.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly 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. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business's revenue was up 46.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.36) EPS. Equities research analysts forecast that Impinj will post 0.4 earnings per share for the current 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.