Impinj, Inc. (NASDAQ:PI) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Impinj, Inc. (NASDAQ:PI) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $160.33.

A number of equities analysts have recently issued reports on PI shares. Cantor Fitzgerald restated an “overweight” rating and set a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Piper Sandler lowered their price objective on Impinj from $140.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Evercore ISI raised their price objective on Impinj from $99.00 to $117.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Susquehanna lowered their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC lowered their price objective on Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, April 24th.

Insiders Place Their Bets

In other Impinj news, COO Hussein Mecklai sold 3,739 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $369,450.59. Following the transaction, the chief operating officer now directly owns 70,347 shares of the company’s stock, valued at approximately $6,950,987.07. This trade represents a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jeffrey Dossett sold 2,666 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total transaction of $263,427.46. Following the completion of the transaction, the executive now directly owns 71,886 shares in the company, valued at $7,103,055.66. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,857 shares of company stock worth $1,665,290. 51.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new position in shares of Impinj during the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new position in shares of Impinj during the fourth quarter valued at about $33,000. Jones Financial Companies Lllp lifted its position in shares of Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after purchasing an additional 175 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Impinj by 116.5% during the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock valued at $53,000 after purchasing an additional 198 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Impinj by 68.7% during the first quarter. GAMMA Investing LLC now owns 722 shares of the company’s stock valued at $65,000 after purchasing an additional 294 shares in the last quarter.

Impinj Trading Down 0.7 %

Shares of PI stock opened at $90.84 on Tuesday. The business’s 50-day moving average price is $84.96 and its 200-day moving average price is $135.44. Impinj has a 12 month low of $60.85 and a 12 month high of $239.88. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 66.79 and a beta of 1.74.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. During the same period last year, the firm posted $0.21 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, sell-side analysts predict that Impinj will post -0.47 earnings per share for the current fiscal year.

About Impinj

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.