Brokerages Set Impinj, Inc. (NASDAQ:PI) PT at $224.60

Shares of Impinj, Inc. (NASDAQ:PI) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $224.60.

PI has been the topic of several research reports. Susquehanna upped their price objective on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. Roth Mkm increased their price target on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Evercore ISI reissued an “outperform” rating and issued a $270.00 price target (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Finally, Needham & Company LLC increased their price target on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th.

Insider Activity at Impinj

In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other Impinj news, CEO Chris Ph.D. Diorio sold 34,474 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $201.51, for a total transaction of $6,946,855.74. Following the completion of the transaction, the chief executive officer now owns 294,438 shares in the company, valued at approximately $59,332,201.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 98,284 shares of company stock worth $19,783,007 in the last quarter. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several hedge funds have recently modified their holdings of PI. Principal Financial Group Inc. grew its holdings in shares of Impinj by 16.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock valued at $403,000 after acquiring an additional 454 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Impinj by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after acquiring an additional 7,247 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Impinj in the 1st quarter valued at about $25,747,000. SG Americas Securities LLC acquired a new stake in Impinj in the 1st quarter valued at about $513,000. Finally, TimesSquare Capital Management LLC acquired a new stake in Impinj in the 1st quarter valued at about $19,195,000.

Impinj Stock Performance

NASDAQ:PI opened at $192.91 on Tuesday. The stock’s fifty day moving average price is $200.50 and its two-hundred day moving average price is $172.74. Impinj has a 52-week low of $66.54 and a 52-week high of $239.88. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 216.75 and a beta of 1.81.

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

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.