Impinj, Inc. (NASDAQ:PI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Impinj, Inc. (NASDAQ:PI) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $180.10.

Several brokerages recently issued reports on PI. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Lake Street Capital raised their target price on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Cantor Fitzgerald decreased their price target on Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Piper Sandler dropped their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group decreased their target price 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 Buying and Selling

In related news, CFO Cary Baker sold 290 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $140.96, for a total transaction of $40,878.40. Following the completion of the sale, the chief financial officer now directly owns 71,754 shares of the company’s stock, valued at $10,114,443.84. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $30,672.60. Following the completion of the transaction, the insider now directly owns 6,979 shares in the company, valued at $1,019,352.74. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,466 shares of company stock valued at $789,298 over the last quarter. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of hedge funds have recently modified their holdings of PI. National Bank of Canada FI acquired a new stake in shares of Impinj during the third quarter valued at approximately $30,000. Farther Finance Advisors LLC raised its stake in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after purchasing an additional 141 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Impinj during the 4th quarter valued at $33,000. Jones Financial Companies Lllp lifted its holdings in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock valued at $38,000 after purchasing an additional 175 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Impinj by 116.5% in the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after buying an additional 198 shares during the period.

Impinj Price Performance

Shares of PI stock opened at $104.51 on Thursday. The firm’s 50-day simple moving average is $141.99 and its 200-day simple moving average is $171.54. Impinj has a 1-year low of $97.77 and a 1-year high of $239.88. The firm has a market cap of $2.96 billion, a P/E ratio of 76.85 and a beta of 1.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share 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%. Analysts expect that Impinj will post 1.05 earnings per share for the current fiscal 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.