Impinj, Inc. (NASDAQ:PI) Given Average Rating of "Moderate Buy" by Brokerages

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

PI has been the topic of a number of research analyst reports. Needham & Company LLC upped their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Cantor Fitzgerald boosted their price target on Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Piper Sandler reaffirmed an "overweight" rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Lake Street Capital increased their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Finally, Evercore ISI reiterated an "outperform" rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th.

Impinj Stock Performance

Shares of PI traded up $2.74 during mid-day trading on Friday, reaching $191.04. The stock had a trading volume of 302,644 shares, compared to its average volume of 539,272. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 214.65 and a beta of 1.81. Impinj has a 12 month low of $78.17 and a 12 month high of $239.88. The business has a fifty day moving average of $206.17 and a 200 day moving average of $176.75.

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

Insider Transactions at Impinj

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The trade was a 14.81 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the sale, the executive now directly owns 65,294 shares in the company, valued at $11,829,313.98. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 655,674 shares of company stock valued at $131,623,305 over the last 90 days. 51.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Impinj

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Impinj by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company's stock valued at $322,384,000 after purchasing an additional 35,893 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Impinj by 165.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 5,343 shares of the company's stock worth $685,000 after buying an additional 3,327 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Impinj by 6.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,827 shares of the company's stock valued at $1,904,000 after purchasing an additional 850 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Impinj in the 1st quarter worth about $228,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Impinj by 0.6% in the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company's stock valued at $56,376,000 after purchasing an additional 2,681 shares in 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.