Impinj (PI) to Release Earnings on Wednesday

Impinj (NASDAQ:PI) will likely be posting its quarterly earnings results after the market closes on Wednesday, February 5th. Analysts expect Impinj to post earnings of $0.48 per share and revenue of $92.96 million for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Impinj Stock Performance

Shares of NASDAQ PI opened at $132.66 on Wednesday. The firm has a market capitalization of $3.75 billion, a P/E ratio of 149.06 and a beta of 1.88. Impinj has a one year low of $95.96 and a one year high of $239.88. The company’s fifty day moving average is $156.28 and its two-hundred day moving average is $175.07.

Insider Activity

In other news, major shareholder Sylebra Capital Llc sold 95,670 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $195.21, for a total transaction of $18,675,740.70. Following the completion of the transaction, the insider now owns 2,903,505 shares of the company’s stock, valued at $566,793,211.05. This represents a 3.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Hussein Mecklai sold 338 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $141.02, for a total transaction of $47,664.76. Following the transaction, the chief operating officer now directly owns 61,586 shares of the company’s stock, valued at approximately $8,684,857.72. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 563,533 shares of company stock valued at $112,739,581 in the last 90 days. 51.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PI shares. 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 note on Thursday, October 24th. Needham & Company LLC cut their price target on Impinj from $245.00 to $182.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Lake Street Capital lifted their price target on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, The Goldman Sachs Group lifted their price target on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $214.30.

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.