Impinj (NASDAQ:PI) Upgraded to Hold at StockNews.com

Impinj (NASDAQ:PI) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

A number of other brokerages have also commented on PI. Evercore ISI restated an “outperform” rating and issued a $270.00 target price (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Susquehanna boosted their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. Cantor Fitzgerald raised their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and set a $235.00 target price (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Impinj presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Stock Down 2.9 %

NASDAQ PI traded down $4.01 during trading on Thursday, hitting $132.51. The company’s stock had a trading volume of 1,619,467 shares, compared to its average volume of 668,036. Impinj has a 52 week low of $87.15 and a 52 week high of $239.88. The firm has a market cap of $3.75 billion, a P/E ratio of 148.89 and a beta of 1.88. The firm has a 50 day moving average price of $164.71 and a 200 day moving average price of $176.40.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate 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 for the quarter was up 46.5% compared to the same quarter last year. During the same period last year, the business earned ($0.36) earnings per share. On average, equities analysts expect that Impinj will post 0.4 earnings per share for the current year.

Insider Activity

In other Impinj news, CFO Cary Baker sold 15,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $204.90, for a total transaction of $3,073,500.00. Following the sale, the chief financial officer now owns 71,096 shares of the company’s stock, valued at $14,567,570.40. This represents a 17.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Sylebra Capital Llc sold 32,031 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $195.35, for a total transaction of $6,257,255.85. Following the completion of the sale, the insider now owns 3,021,548 shares of the company’s stock, valued at $590,259,401.80. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 655,038 shares of company stock worth $131,064,693. Insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI acquired a new stake in shares of Impinj in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC boosted its holdings in Impinj by 1,084.6% in 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 during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Impinj in the third quarter worth about $54,000. Asset Management One Co. Ltd. acquired a new stake in Impinj in the third quarter worth about $138,000. Finally, USA Financial Formulas raised its holdings in Impinj by 82.0% during the 3rd quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after purchasing an additional 296 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.