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

Impinj, Inc. (NASDAQ:PIGet Free Report) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $132.89.

Several analysts have recently weighed in on the company. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Susquehanna boosted their price target on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research note on Tuesday, April 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price target (up previously from $130.00) on shares of Impinj in a research note on Thursday, April 25th. Needham & Company LLC boosted their price target on Impinj from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Canaccord Genuity Group boosted their price target on Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, March 14th.

View Our Latest Report on PI

Insider Transactions at Impinj

In other news, CFO Cary Baker sold 10,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $159.08, for a total transaction of $1,590,800.00. Following the completion of the sale, the chief financial officer now owns 67,948 shares in the company, valued at $10,809,167.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Hussein Mecklai sold 30,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares in the company, valued at $4,243,247.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Cary Baker sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $159.08, for a total value of $1,590,800.00. Following the completion of the sale, the chief financial officer now owns 67,948 shares of the company’s stock, valued at approximately $10,809,167.84. The disclosure for this sale can be found here. Insiders sold a total of 183,321 shares of company stock worth $22,221,714 over the last 90 days. 51.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Impinj

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of Impinj by 0.8% in the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after acquiring an additional 31,289 shares in the last quarter. Sylebra Capital LLC acquired a new position in shares of Impinj during the third quarter worth about $217,290,000. Vanguard Group Inc. boosted its position in Impinj by 1.5% during the first 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 during the last quarter. Westfield Capital Management Co. LP boosted its position in Impinj by 40.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after purchasing an additional 292,470 shares during the last quarter. Finally, Fred Alger Management LLC boosted its position in Impinj by 249.6% during the third quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after purchasing an additional 568,301 shares during the last quarter.

Impinj Stock Performance

Shares of NASDAQ PI opened at $160.27 on Tuesday. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. The business’s 50 day moving average is $130.51 and its two-hundred day moving average is $102.81. The company has a market cap of $4.44 billion, a P/E ratio of -457.91 and a beta of 1.85. Impinj has a 12 month low of $48.39 and a 12 month high of $167.45.

Impinj (NASDAQ:PIGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The company had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. On average, equities analysts expect that Impinj will post -0.62 EPS for the current year.

Impinj Company Profile

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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.

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Analyst Recommendations for Impinj (NASDAQ:PI)

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