Impinj, Inc. (NASDAQ:PI) Receives $224.60 Average PT from Brokerages

Impinj, Inc. (NASDAQ:PI) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $224.60.

PI has been the subject of a number of recent analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a report on Thursday, October 24th. Susquehanna raised their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Cantor Fitzgerald lifted their target price on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th.

Impinj Trading Up 1.8 %

Shares of PI stock opened at $148.76 on Wednesday. The firm’s 50 day moving average is $187.02 and its 200 day moving average is $177.25. Impinj has a 12 month low of $78.17 and a 12 month high of $239.88. The stock has a market capitalization of $4.21 billion, a P/E ratio of 167.15 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm’s revenue was up 46.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.36) earnings per share. On average, equities analysts predict that Impinj will post 0.4 EPS for the current year.

Insider Buying and Selling

In related news, CRO Jeffrey Dossett sold 7,500 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the sale, the executive now owns 65,294 shares of the company’s stock, valued at $11,829,313.98. This represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Sylebra Capital Llc sold 250,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $203.00, for a total transaction of $50,750,000.00. Following the completion of the sale, the insider now owns 2,222,352 shares in the company, valued at approximately $451,137,456. This trade represents a 10.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 652,072 shares of company stock worth $130,869,929. 51.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Impinj

Institutional investors and hedge funds have recently bought and sold shares of the company. National Bank of Canada FI purchased a new stake in shares of Impinj during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC increased its holdings in shares of 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 acquiring an additional 141 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj in the 3rd quarter valued at approximately $54,000. SouthState Corp acquired a new stake in Impinj in the 2nd quarter worth approximately $94,000. Finally, nVerses Capital LLC raised its holdings in shares of Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 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.