Impinj, Inc. (NASDAQ:PI) Receives $183.44 Consensus Target Price from Analysts

Impinj, Inc. (NASDAQ:PI - Get Free Report) has received a consensus recommendation of "Buy" from the nine research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $183.44.

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. The Goldman Sachs Group dropped their target price on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. Needham & Company LLC decreased their target price on Impinj from $182.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Susquehanna dropped their price target on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. Finally, Piper Sandler decreased their price objective on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a report on Thursday, February 6th.

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Impinj Stock Performance

NASDAQ PI traded down $0.93 on Friday, hitting $90.88. 61,128 shares of the stock were exchanged, compared to its average volume of 541,893. Impinj has a 52-week low of $84.17 and a 52-week high of $239.88. The firm has a market capitalization of $2.59 billion, a P/E ratio of 66.77 and a beta of 1.98. The stock has a fifty day moving average price of $105.55 and a two-hundred day moving average price of $156.74.

Impinj (NASDAQ:PI - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Sell-side analysts expect that Impinj will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Impinj

In other news, CFO Cary Baker sold 1,553 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.76, for a total value of $153,374.28. Following the sale, the chief financial officer now directly owns 76,451 shares of the company's stock, valued at approximately $7,550,300.76. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Hussein Mecklai sold 338 shares of the company's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $141.02, for a total value of $47,664.76. Following the transaction, the chief operating officer now owns 61,586 shares in the company, valued at $8,684,857.72. This trade represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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 Trading of Impinj

Large investors have recently made changes to their positions in the company. 111 Capital purchased a new position in Impinj in the fourth quarter valued at $250,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Impinj by 25.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,605 shares of the company's stock valued at $1,686,000 after acquiring an additional 2,327 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Impinj during the 4th quarter worth about $3,431,000. Mackenzie Financial Corp lifted its stake in Impinj by 330.9% during the fourth quarter. Mackenzie Financial Corp now owns 6,317 shares of the company's stock worth $918,000 after purchasing an additional 4,851 shares during the last quarter. Finally, Sylebra Capital LLC boosted its holdings in Impinj by 8.6% in the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock valued at $504,360,000 after purchasing an additional 274,764 shares in the last quarter.

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.