Analysts Set Impinj, Inc. (NASDAQ:PI) Target Price at $224.60

Shares of Impinj, Inc. (NASDAQ:PI) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $224.60.

Several equities analysts recently issued reports on the company. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. The Goldman Sachs Group lifted their price target on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Susquehanna increased their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. Needham & Company LLC raised their target price on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald upped their price target on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 24th.

Insider Transactions at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The trade was a 14.81 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $181.17, for a total value of $1,358,775.00. Following the completion of the sale, the executive now owns 65,294 shares of the company’s stock, valued at approximately $11,829,313.98. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 655,674 shares of company stock worth $131,623,305 in the last three months. 51.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Impinj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after purchasing an additional 35,893 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Impinj by 165.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 5,343 shares of the company’s stock worth $685,000 after acquiring an additional 3,327 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Impinj by 6.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,827 shares of the company’s stock worth $1,904,000 after purchasing an additional 850 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Impinj in the 1st quarter valued at about $228,000. Finally, Janus Henderson Group PLC raised its stake in shares of Impinj by 0.6% in the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after purchasing an additional 2,681 shares in the last quarter.

Impinj Stock Up 1.4 %

NASDAQ PI opened at $193.63 on Friday. The stock has a market capitalization of $5.48 billion, a P/E ratio of 215.71 and a beta of 1.81. Impinj has a 52-week low of $78.17 and a 52-week high of $239.88. The firm has a 50-day moving average price of $206.17 and a 200 day moving average price of $176.92.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same quarter in the prior year, the company posted ($0.36) earnings per share. Impinj’s quarterly revenue was up 46.5% on a year-over-year basis. On average, equities research analysts expect that Impinj will post 0.4 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.