Impinj, Inc. (NASDAQ:PI) Receives Consensus Recommendation of “Buy” from Analysts

Impinj, Inc. (NASDAQ:PI) has received an average recommendation of “Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $180.10.

A number of brokerages have commented on PI. Needham & Company LLC decreased their price objective on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Susquehanna cut their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group reduced their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th.

Insider Activity

In related news, insider Cathal G. Phelan sold 210 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the completion of the transaction, the insider now owns 6,979 shares of the company’s stock, valued at $1,019,352.74. This represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Cary Baker sold 499 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $72,883.94. Following the sale, the chief financial officer now directly owns 71,107 shares in the company, valued at approximately $10,385,888.42. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,323 shares of company stock worth $2,454,588. Insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Large investors have recently bought and sold shares of the company. National Bank of Canada FI bought a new position in shares of Impinj during the third quarter valued at $30,000. Farther Finance Advisors LLC raised its position in 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. Canada Pension Plan Investment Board acquired a new position in Impinj during the 4th quarter worth about $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Impinj in the 4th quarter valued at about $33,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after buying an additional 175 shares during the period.

Impinj Price Performance

Shares of PI opened at $100.45 on Monday. The company’s 50-day moving average is $121.44 and its 200-day moving average is $164.58. The firm has a market capitalization of $2.87 billion, a PE ratio of 73.86 and a beta of 1.98. Impinj has a fifty-two week low of $84.17 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share 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 7.11%. Analysts predict that Impinj will post -0.47 earnings per share for the current fiscal year.

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.