IMPINJ Inc (NYSE:PI) dropped 5.6% during trading on Friday . The stock traded as low as $37.08 and last traded at $37.09. Approximately 541,483 shares traded hands during trading, an increase of 2% from the average daily volume of 533,010 shares. The stock had previously closed at $39.31.

PI has been the topic of several recent analyst reports. Zacks Investment Research cut IMPINJ from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Royal Bank Of Canada reissued an “outperform” rating on shares of IMPINJ in a report on Saturday, July 22nd. Needham & Company LLC boosted their target price on IMPINJ from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. KeyCorp cut IMPINJ to a “hold” rating in a report on Tuesday, June 27th. Finally, Dougherty & Co initiated coverage on IMPINJ in a report on Wednesday, August 23rd. They set a “buy” rating and a $62.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. IMPINJ currently has an average rating of “Buy” and an average price target of $50.67.

The stock’s 50-day moving average is $39.45 and its 200-day moving average is $39.45. The company’s market cap is $773.70 million.

IMPINJ (NYSE:PI) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The firm had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $33.41 million. During the same period last year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities analysts forecast that IMPINJ Inc will post $0.05 EPS for the current fiscal year.

In other IMPINJ news, insider Eric Brodersen sold 7,000 shares of the stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $39.85, for a total value of $278,950.00. Following the sale, the insider now directly owns 92,843 shares in the company, valued at $3,699,793.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Evan Fein sold 9,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $38.00, for a total transaction of $342,000.00. Following the completion of the sale, the chief financial officer now owns 15,300 shares in the company, valued at $581,400. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,500 shares of company stock worth $1,693,315.

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its holdings in IMPINJ by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after purchasing an additional 1,942 shares during the period. American International Group Inc. acquired a new stake in IMPINJ in the first quarter worth $112,000. Nordea Investment Management AB acquired a new stake in IMPINJ in the first quarter worth $127,000. ClariVest Asset Management LLC acquired a new stake in IMPINJ in the first quarter worth $127,000. Finally, Turner Investments LLC acquired a new stake in IMPINJ in the second quarter worth $146,000.

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IMPINJ Company Profile

Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.

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