Impinj, Inc. (NASDAQ:PI) Receives $180.10 Average PT from Brokerages

Shares of Impinj, Inc. (NASDAQ:PI) have been given an average recommendation of “Buy” by the ten research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $180.10.

A number of brokerages have recently issued reports on PI. Piper Sandler lowered their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group lowered their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald upgraded Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. 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 $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th.

Impinj Stock Up 5.1 %

NASDAQ:PI opened at $94.82 on Monday. The stock’s 50-day simple moving average is $123.50 and its 200 day simple moving average is $165.47. The firm has a market capitalization of $2.71 billion, a PE ratio of 69.72 and a beta of 1.88. Impinj has a twelve month low of $84.17 and a twelve month high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. On average, analysts anticipate that Impinj will post -0.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Cary Baker sold 1,553 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.76, for a total transaction of $153,374.28. Following the transaction, the chief financial officer now directly owns 76,451 shares in the company, valued at $7,550,300.76. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cathal G. Phelan sold 210 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $30,672.60. Following the transaction, the insider now owns 6,979 shares in the company, valued at approximately $1,019,352.74. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,323 shares of company stock worth $2,454,588 in the last ninety days. 51.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. National Bank of Canada FI purchased a new position in shares of Impinj in the 3rd quarter valued at approximately $30,000. Farther Finance Advisors LLC raised its stake in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Impinj during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new position in Impinj during the fourth quarter valued at $33,000. Finally, Jones Financial Companies Lllp raised its stake in 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 buying an additional 175 shares during the last quarter.

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.