Brokerages Set Impinj, Inc. (NASDAQ:PI) PT at $183.44

Impinj, Inc. (NASDAQ:PI - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $160.33.

A number of analysts recently weighed in on the stock. Susquehanna reduced their target price on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a report on Wednesday, January 22nd. Evercore ISI raised their price objective on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note on Thursday. The Goldman Sachs Group cut their target price on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Finally, Piper Sandler reduced their price objective on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday.

Insiders Place Their Bets

In related news, CFO Cary Baker sold 1,553 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 76,451 shares of the company's stock, valued at approximately $7,550,300.76. This represents a 1.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Hussein Mecklai sold 3,739 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $369,450.59. Following the transaction, the chief operating officer now directly owns 70,347 shares of the company's stock, valued at $6,950,987.07. This represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,857 shares of company stock worth $1,665,290. Insiders own 51.00% of the company's stock.

Institutional Trading of Impinj

Large investors have recently added to or reduced their stakes in the company. Sylebra Capital LLC increased its position in Impinj by 8.6% during the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock worth $504,360,000 after buying an additional 274,764 shares during the period. Vanguard Group Inc. increased its position in Impinj by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock worth $500,009,000 after acquiring an additional 104,861 shares during the period. Capital International Investors increased its position in Impinj by 45.0% during the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after acquiring an additional 473,721 shares during the period. Geode Capital Management LLC raised its stake in Impinj by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock worth $79,654,000 after purchasing an additional 3,899 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Impinj by 3,824.4% in the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock valued at $63,310,000 after purchasing an additional 424,851 shares during the period.

Impinj Price Performance

PI stock traded up $1.76 on Tuesday, hitting $91.51. 814,975 shares of the company were exchanged, compared to its average volume of 589,159. The business's fifty day moving average is $85.20 and its two-hundred day moving average is $137.75. Impinj has a twelve month low of $60.85 and a twelve month high of $239.88. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 67.29 and a beta of 1.74.

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