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

Shares of Impinj, Inc. (NASDAQ:PI) have been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $224.60.

Several brokerages recently commented on PI. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Cantor Fitzgerald increased their target price on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th.

Impinj Stock Performance

PI opened at $148.06 on Wednesday. The company has a market cap of $4.19 billion, a PE ratio of 166.36 and a beta of 1.80. The stock has a 50-day moving average of $195.62 and a 200-day moving average of $177.92. Impinj has a 52-week low of $78.17 and a 52-week high of $239.88.

Impinj (NASDAQ:PI) last released its earnings results 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 net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same quarter in the previous year, the business earned ($0.36) EPS. The business’s revenue was up 46.5% on a year-over-year basis. On average, research analysts predict that Impinj will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other Impinj news, CRO Jeffrey Dossett sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $181.17, for a total value of $1,358,775.00. Following the sale, the executive now owns 65,294 shares in the company, valued at approximately $11,829,313.98. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Cathal G. Phelan sold 209 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total value of $43,712.35. Following the transaction, the insider now directly owns 17,647 shares of the company’s stock, valued at approximately $3,690,870.05. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 655,674 shares of company stock valued at $131,623,305. 51.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Impinj

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Impinj in the second quarter valued at approximately $566,000. Raymond James & Associates lifted its holdings in Impinj by 30.2% during the 2nd quarter. Raymond James & Associates now owns 18,861 shares of the company’s stock valued at $2,957,000 after purchasing an additional 4,373 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Impinj by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 121,159 shares of the company’s stock worth $18,994,000 after purchasing an additional 7,496 shares during the period. K.J. Harrison & Partners Inc increased its holdings in shares of Impinj by 102.6% in the second quarter. K.J. Harrison & Partners Inc now owns 23,700 shares of the company’s stock valued at $3,715,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Impinj by 79.1% in the second quarter. Panagora Asset Management Inc. now owns 66,361 shares of the company’s stock valued at $10,403,000 after purchasing an additional 29,299 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.