Impinj (NASDAQ:PI) Sees Large Volume Increase - What's Next?

Impinj, Inc. (NASDAQ:PI - Get Free Report) shares saw an uptick in trading volume on Wednesday . 384,877 shares were traded during mid-day trading, an increase of 0% from the previous session's volume of 384,265 shares.The stock last traded at $139.19 and had previously closed at $149.31.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PI shares. Needham & Company LLC upped their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Cantor Fitzgerald increased their price target on Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Lake Street Capital boosted their price objective on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Evercore ISI reaffirmed an "outperform" rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Impinj has an average rating of "Moderate Buy" and an average price target of $224.60.

Impinj Price Performance

The firm has a market capitalization of $3.86 billion, a PE ratio of 153.39 and a beta of 1.88. The company's fifty day simple moving average is $166.12 and its 200 day simple moving average is $176.71.

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

Insider Activity

In other Impinj news, COO Hussein Mecklai sold 10,000 shares of the firm's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $204.75, for a total value of $2,047,500.00. Following the completion of the transaction, the chief operating officer now directly owns 60,041 shares of the company's stock, valued at $12,293,394.75. This trade represents a 14.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cathal G. Phelan sold 210 shares of the business's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $30,672.60. Following the transaction, the insider now owns 6,979 shares of the company's stock, valued at $1,019,352.74. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 655,038 shares of company stock worth $131,064,693. 51.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PI. Harbour Capital Advisors LLC grew its stake in Impinj by 14.1% in the 4th quarter. Harbour Capital Advisors LLC now owns 3,445 shares of the company's stock worth $521,000 after buying an additional 425 shares in the last quarter. Diversified Trust Co grew its position in Impinj by 11.9% in the fourth quarter. Diversified Trust Co now owns 2,251 shares of the company's stock worth $327,000 after acquiring an additional 240 shares in the last quarter. Nordea Investment Management AB purchased a new stake in Impinj during the fourth quarter valued at about $3,341,000. Principal Financial Group Inc. raised its position in Impinj by 4,013.7% during the third quarter. Principal Financial Group Inc. now owns 125,633 shares of the company's stock valued at $27,202,000 after purchasing an additional 122,579 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Impinj during the third quarter worth about $1,749,000.

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.