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

Shares of Impinj, Inc. (NASDAQ:PI - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $180.10.

A number of analysts have recently commented on the company. Needham & Company LLC cut their price target on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a report 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 note on Thursday. Cantor Fitzgerald decreased their price target on shares of Impinj from $260.00 to $133.00 and set an "overweight" rating for the company in a research note on Thursday. 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, StockNews.com lowered shares of Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th.

Insider Activity

In related news, CRO Jeffrey Dossett sold 7,500 shares of Impinj stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the completion of the sale, the executive now owns 65,294 shares of the company's stock, valued at approximately $11,829,313.98. The trade was a 10.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Sylebra Capital Llc sold 78,616 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $201.79, for a total transaction of $15,863,922.64. Following the completion of the transaction, the insider now owns 2,143,736 shares in the company, valued at approximately $432,584,487.44. This trade represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,132 shares of company stock valued at $18,510,291. 51.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Impinj

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in Impinj during the 2nd quarter worth approximately $2,183,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Impinj by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,753 shares of the company's stock worth $1,999,000 after buying an additional 317 shares in the last quarter. Creative Planning boosted its position in shares of Impinj by 13.8% in the second quarter. Creative Planning now owns 9,759 shares of the company's stock valued at $1,530,000 after acquiring an additional 1,180 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj in the third quarter valued at about $54,000. Finally, USA Financial Formulas increased its position in Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company's stock worth $142,000 after acquiring an additional 296 shares during the period.

Impinj Trading Down 2.2 %

Shares of NASDAQ:PI traded down $2.38 during trading on Thursday, hitting $105.38. 1,326,484 shares of the company's stock traded hands, compared to its average volume of 917,382. The company has a 50-day moving average price of $145.29 and a 200-day moving average price of $172.16. Impinj has a 52 week low of $97.77 and a 52 week high of $239.88. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 77.49 and a beta of 1.88.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share 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 7.69%. On average, analysts predict that Impinj will post 1.05 earnings per share for the current fiscal 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.