Impinj (NASDAQ:PI - Get Free Report) had its price objective decreased by research analysts at Needham & Company LLC from $245.00 to $182.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price objective suggests a potential upside of 37.94% from the company's current price.
Other research analysts have also issued research reports about the stock. Lake Street Capital raised their target price on shares of Impinj from $190.00 to $251.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Susquehanna raised their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a research note on Monday, October 21st. Evercore ISI reaffirmed an "outperform" rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. The Goldman Sachs Group increased their price target on Impinj from $165.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Finally, StockNews.com upgraded Impinj from a "sell" rating to a "hold" rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $218.30.
View Our Latest Analysis on PI
Impinj Stock Performance
Shares of NASDAQ PI traded down $0.57 during trading on Friday, reaching $131.94. The company had a trading volume of 683,844 shares, compared to its average volume of 669,595. Impinj has a 52 week low of $91.86 and a 52 week high of $239.88. The business's 50 day moving average price is $163.27 and its 200-day moving average price is $176.24. The stock has a market cap of $3.73 billion, a PE ratio of 148.25 and a beta of 1.88.
Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. The firm had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business's revenue for the quarter was up 46.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.36) EPS. Equities analysts anticipate that Impinj will post 0.4 earnings per share for the current year.
Insider Transactions at Impinj
In other Impinj news, COO Hussein Mecklai sold 338 shares of the business's stock in a transaction that occurred 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 sale, the chief operating officer now owns 61,586 shares in the company, valued at approximately $8,684,857.72. The trade was a 0.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Sylebra Capital Llc sold 32,031 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $195.35, for a total transaction of $6,257,255.85. Following the transaction, the insider now directly owns 3,021,548 shares of the company's stock, valued at $590,259,401.80. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 655,038 shares of company stock valued at $131,064,693 over the last 90 days. 51.00% of the stock is owned by company insiders.
Institutional Trading of Impinj
A number of institutional investors have recently made changes to their positions in PI. National Bank of Canada FI bought a new stake in Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC increased its position in shares of 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 purchasing an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Impinj during the 3rd quarter worth approximately $54,000. Asset Management One Co. Ltd. acquired a new stake in shares of Impinj in the 3rd quarter valued at approximately $138,000. Finally, USA Financial Formulas boosted its holdings in shares of Impinj by 82.0% in the 3rd quarter. USA Financial Formulas now owns 657 shares of the company's stock valued at $142,000 after buying an additional 296 shares during the last quarter.
About Impinj
(
Get Free Report)
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.
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