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

Impinj, Inc. (NASDAQ:PI - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $224.60.

A number of brokerages have recently commented on PI. Cantor Fitzgerald boosted their price target on Impinj from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Lake Street Capital raised their price target on Impinj from $190.00 to $251.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Needham & Company LLC boosted their target price on shares of Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Evercore ISI reaffirmed an "outperform" rating and issued a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their target price on shares of Impinj from $165.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday.

Impinj Stock Down 2.7 %

Shares of NASDAQ:PI traded down $5.63 during midday trading on Tuesday, reaching $200.00. 643,234 shares of the company traded hands, compared to its average volume of 471,169. Impinj has a 12 month low of $58.56 and a 12 month high of $239.88. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -571.43 and a beta of 1.80. The firm's fifty day moving average price is $197.25 and its two-hundred day moving average price is $170.16.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same period in the prior year, the business posted ($0.36) earnings per share. The company's revenue was up 46.5% on a year-over-year basis. Analysts forecast that Impinj will post 0.35 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Cary Baker sold 366 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.83, for a total value of $87,045.78. Following the transaction, the chief financial officer now owns 71,096 shares of the company's stock, valued at $16,908,761.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cary Baker sold 366 shares of the business's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.83, for a total transaction of $87,045.78. Following the completion of the transaction, the chief financial officer now directly owns 71,096 shares of the company's stock, valued at $16,908,761.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,779 shares of company stock valued at $3,825,046 in the last 90 days. Company insiders own 51.00% of the company's stock.

Institutional Trading of Impinj

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Impinj during the first quarter valued at $513,000. TimesSquare Capital Management LLC acquired a new position in shares of Impinj in the first quarter valued at about $19,195,000. Harbor Capital Advisors Inc. increased its holdings in shares of Impinj by 112.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company's stock valued at $2,122,000 after purchasing an additional 7,151 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Impinj by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company's stock worth $7,990,000 after purchasing an additional 7,247 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company's stock worth $322,384,000 after purchasing an additional 35,893 shares during the period.

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.