Impinj, Inc. (NASDAQ:PI - Get Free Report) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $127.06, but opened at $99.79. Impinj shares last traded at $111.85, with a volume of 655,340 shares traded.
The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.69%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on PI. StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Needham & Company LLC dropped their price target on Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday. Susquehanna cut their price target on Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a report on Wednesday, January 22nd. Evercore ISI reiterated an "outperform" rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Cantor Fitzgerald cut their target price on shares of Impinj from $260.00 to $133.00 and set an "overweight" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Impinj has an average rating of "Moderate Buy" and an average price target of $180.10.
Read Our Latest Stock Report on Impinj
Insider Buying and Selling at Impinj
In other news, COO Hussein Mecklai sold 338 shares of Impinj stock in a transaction 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 transaction, the chief operating officer now owns 61,586 shares in the company, valued at approximately $8,684,857.72. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jeffrey Dossett sold 7,500 shares of the business's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00. Following the transaction, the executive now directly owns 65,294 shares of the company's stock, valued at $11,829,313.98. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,516 shares of company stock valued at $2,646,368 in the last quarter. Company insiders own 51.00% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Royce & Associates LP boosted its stake in shares of Impinj by 5.3% in the 4th quarter. Royce & Associates LP now owns 208,864 shares of the company's stock valued at $30,340,000 after purchasing an additional 10,594 shares in the last quarter. Swiss National Bank lifted its stake in Impinj by 2.0% in the 4th quarter. Swiss National Bank now owns 47,000 shares of the company's stock valued at $6,827,000 after purchasing an additional 900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Impinj by 77.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,391 shares of the company's stock valued at $9,063,000 after buying an additional 27,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Impinj by 17.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,329 shares of the company's stock valued at $919,000 after buying an additional 923 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in shares of Impinj by 57.5% during the fourth quarter. AlphaQuest LLC now owns 1,482 shares of the company's stock worth $215,000 after buying an additional 541 shares during the last quarter.
Impinj Price Performance
The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 77.04 and a beta of 1.88. The firm's fifty day moving average price is $145.29 and its 200-day moving average price is $172.30.
Impinj Company Profile
(
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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