Impinj, Inc. (NASDAQ:PI) Receives $214.30 Consensus PT from Analysts

Impinj, Inc. (NASDAQ:PI) has received a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $180.10.

PI has been the subject of a number of recent research reports. Cantor Fitzgerald decreased their price target on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Lake Street Capital increased their target price on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. Piper Sandler decreased their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Susquehanna dropped their target price on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd.

Impinj Stock Performance

Shares of PI stock opened at $104.51 on Thursday. 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 price-to-earnings ratio of 76.85 and a beta of 1.88. The stock’s 50-day moving average is $141.99 and its two-hundred day moving average is $171.54.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate 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, research analysts predict that Impinj will post 1.05 EPS for the current year.

Insider Activity at Impinj

In other news, insider Cathal G. Phelan sold 210 shares of Impinj stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the transaction, the insider now owns 6,979 shares of the company’s stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Hussein Mecklai sold 826 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.07, for a total transaction of $120,653.82. Following the completion of the sale, the chief operating officer now directly owns 60,830 shares in the company, valued at approximately $8,885,438.10. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,466 shares of company stock worth $789,298 over the last 90 days. Company insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC raised its holdings in shares of Impinj by 210.2% in the third quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock worth $1,855,000 after acquiring an additional 5,807 shares during 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 shares of Impinj during the 3rd quarter worth about $3,872,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Impinj during the 3rd quarter worth about $846,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Impinj during the third quarter worth about $1,437,000.

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.