Brokerages Set Impinj, Inc. (NASDAQ:PI) Target Price at $180.10

Impinj, Inc. (NASDAQ:PI - Get Free Report) has earned an average recommendation of "Buy" from the ten analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $180.10.

A number of brokerages have recently weighed in on PI. Cantor Fitzgerald upgraded shares of Impinj to a "strong-buy" rating in a research note on Thursday, February 27th. StockNews.com cut shares of Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. The Goldman Sachs Group lowered their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. Piper Sandler cut their price objective on Impinj from $235.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, Needham & Company LLC lowered their target price on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, February 6th.

Insider Transactions at Impinj

In related news, insider Cathal G. Phelan sold 210 shares of the company's 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Cary Baker sold 290 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $140.96, for a total transaction of $40,878.40. Following the transaction, the chief financial officer now owns 71,754 shares of the company's stock, valued at approximately $10,114,443.84. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,323 shares of company stock valued at $2,454,588. 51.00% of the stock is owned by corporate insiders.

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Institutional Investors Weigh In On Impinj

A number of large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its stake in Impinj by 157.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company's stock worth $2,009,000 after purchasing an additional 5,669 shares in the last quarter. New York State Teachers Retirement System acquired a new position in Impinj during the 3rd quarter worth about $1,126,000. Farther Finance Advisors LLC lifted its position in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock worth $33,000 after buying an additional 141 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in Impinj by 4.2% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 143,219 shares of the company's stock worth $31,010,000 after acquiring an additional 5,716 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Impinj in the 3rd quarter valued at about $1,777,000.

Impinj Trading Down 2.7 %

NASDAQ PI traded down $2.55 during trading on Monday, hitting $92.27. 350,202 shares of the company traded hands, compared to its average volume of 520,988. Impinj has a 12 month low of $84.17 and a 12 month high of $239.88. The business has a fifty day simple moving average of $122.39 and a 200 day simple moving average of $164.97. The company has a market capitalization of $2.63 billion, a P/E ratio of 67.85 and a beta of 1.88.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data 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%. Equities research analysts predict that Impinj will post -0.47 EPS for the current fiscal 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.