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

Shares of Impinj, Inc. (NASDAQ:PI) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $180.10.

A number of equities research analysts have commented on PI shares. Needham & Company LLC decreased their price target on Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Evercore ISI reaffirmed an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Lake Street Capital upped their price target on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th.

Insider Activity at Impinj

In other Impinj news, COO Hussein Mecklai sold 338 shares of Impinj stock in a transaction on Monday, January 13th. The shares were sold at an average price of $141.02, for a total value of $47,664.76. Following the completion of the transaction, the chief operating officer now owns 61,586 shares of the company’s stock, valued at approximately $8,684,857.72. The trade was a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sylebra Capital Llc sold 2,550 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $195.41, for a total transaction of $498,295.50. Following the sale, the insider now directly owns 2,129,260 shares in the company, valued at approximately $416,078,696.60. The trade was a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,516 shares of company stock worth $2,646,368 over the last three months. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Large investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC lifted its holdings in Impinj by 210.2% during the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock valued at $1,855,000 after purchasing an additional 5,807 shares in the last quarter. Nordea Investment Management AB purchased a new position in Impinj in the 4th quarter valued at about $3,341,000. Thrivent Financial for Lutherans acquired a new stake in Impinj in the 3rd quarter worth about $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Impinj in the 3rd quarter worth about $846,000. Finally, Intech Investment Management LLC purchased a new stake in Impinj during the 3rd quarter worth approximately $1,437,000.

Impinj Price Performance

PI opened at $104.84 on Thursday. The firm has a market capitalization of $2.97 billion, a PE ratio of 77.09 and a beta of 1.88. The business’s 50-day moving average is $145.29 and its two-hundred day moving average is $172.30. Impinj has a 1 year low of $97.77 and a 1 year high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a return on equity of 7.69% and a net margin of 11.15%. As a group, sell-side analysts expect that Impinj will post 1.05 EPS for the current 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.