Shares of Impinj, Inc. (NASDAQ:PI - Get Free Report) traded up 8.3% during trading on Friday . The stock traded as high as $99.44 and last traded at $99.93. 350,631 shares were traded during mid-day trading, a decline of 33% from the average session volume of 520,649 shares. The stock had previously closed at $92.27.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. Needham & Company LLC reduced their target price on shares of Impinj from $182.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Susquehanna lowered their target price on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research note on Wednesday, January 22nd. StockNews.com lowered Impinj from a "hold" rating to a "sell" rating in a report on Friday, January 24th. The Goldman Sachs Group dropped their price objective on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Finally, Cantor Fitzgerald raised Impinj to a "strong-buy" rating in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $180.10.
Check Out Our Latest Stock Analysis on Impinj
Impinj Price Performance
The firm has a 50-day simple moving average of $120.53 and a two-hundred day simple moving average of $164.17. The company has a market cap of $2.70 billion, a PE ratio of 69.21 and a beta of 1.98.
Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates 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 forecast that Impinj, Inc. will post -0.47 EPS for the current year.
Insider Activity
In other Impinj news, CEO Chris Ph.D. Diorio sold 8,334 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total transaction of $823,232.52. Following the sale, the chief executive officer now owns 354,076 shares in the company, valued at $34,975,627.28. This represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Jeffrey Dossett sold 580 shares of Impinj stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $84,714.80. Following the completion of the transaction, the executive now owns 66,180 shares of the company's stock, valued at approximately $9,666,250.80. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,323 shares of company stock worth $2,454,588 over the last 90 days. Company insiders own 51.00% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors grew its position in Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock valued at $221,897,000 after buying an additional 473,721 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Impinj by 3,824.4% during the fourth quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock worth $63,310,000 after acquiring an additional 424,851 shares during the period. Norges Bank bought a new stake in Impinj in the fourth quarter worth about $40,100,000. Sylebra Capital LLC lifted its holdings in Impinj by 8.6% in the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock valued at $504,360,000 after acquiring an additional 274,764 shares during the last quarter. Finally, State Street Corp lifted its holdings in Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company's stock valued at $233,555,000 after acquiring an additional 220,776 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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