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

Impinj, Inc. (NASDAQ:PI) has been assigned an average recommendation of “Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $183.44.

Several brokerages have weighed in on PI. The Goldman Sachs Group dropped their price objective on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Susquehanna dropped their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Needham & Company LLC lowered their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Cantor Fitzgerald upgraded shares of Impinj to a “strong-buy” rating in a research report on Thursday, February 27th.

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the transaction, the chief executive officer now owns 354,076 shares of the company’s stock, valued at approximately $34,975,627.28. The trade was a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Jeffrey Dossett sold 2,666 shares of the company’s stock in a transaction that occurred 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 owns 71,886 shares of the company’s stock, valued at $7,103,055.66. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,704 shares of company stock worth $1,925,748 in the last quarter. Corporate insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

Hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC raised its position in Impinj by 8,454.5% in the 3rd quarter. Quest Partners LLC now owns 941 shares of the company’s stock valued at $204,000 after buying an additional 930 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Impinj by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock worth $41,840,000 after acquiring an additional 6,232 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Impinj by 7.7% in the third quarter. The Manufacturers Life Insurance Company now owns 13,736 shares of the company’s stock valued at $2,974,000 after purchasing an additional 983 shares during the last quarter. FMR LLC lifted its position in shares of Impinj by 1.5% in the third quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after purchasing an additional 60,461 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Impinj by 15.4% in the third quarter. D.A. Davidson & CO. now owns 2,855 shares of the company’s stock worth $618,000 after purchasing an additional 380 shares in the last quarter.

Impinj Trading Up 1.9 %

Shares of NASDAQ PI opened at $92.86 on Friday. Impinj has a 1-year low of $84.17 and a 1-year high of $239.88. The company has a 50-day moving average of $106.35 and a two-hundred day moving average of $157.62. The company has a market cap of $2.65 billion, a PE ratio of 68.28 and a beta of 1.98.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. As a group, equities research analysts forecast that Impinj will post -0.47 earnings per share for the current 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.