Impinj, Inc. (NASDAQ:PI) Receives $103.25 Consensus PT from Brokerages

Shares of Impinj, Inc. (NASDAQ:PI) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $103.25.

PI has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $85.00 price target on shares of Impinj in a research note on Thursday, October 26th. StockNews.com raised Impinj to a “sell” rating in a research report on Thursday, October 26th. Roth Mkm cut their target price on Impinj from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Lake Street Capital cut their target price on Impinj from $130.00 to $90.00 in a research report on Thursday, July 27th. Finally, The Goldman Sachs Group cut their price objective on shares of Impinj from $101.00 to $89.00 and set a “buy” rating on the stock in a report on Thursday, October 26th.

Insider Buying and Selling

In other Impinj news, CFO Cary Baker sold 1,485 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $60.21, for a total value of $89,411.85. Following the transaction, the chief financial officer now directly owns 50,030 shares in the company, valued at $3,012,306.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Impinj news, major shareholder Sylebra Capital Ltd acquired 79,370 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were acquired at an average cost of $66.11 per share, with a total value of $5,247,150.70. Following the completion of the acquisition, the insider now directly owns 3,948,566 shares in the company, valued at $261,039,698.26. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Cary Baker sold 1,485 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $60.21, for a total transaction of $89,411.85. Following the sale, the chief financial officer now owns 50,030 shares in the company, valued at $3,012,306.30. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 177,141 shares of company stock valued at $12,346,470 and have sold 13,589 shares valued at $814,767. 17.10% of the stock is owned by insiders.

Institutional Trading of Impinj

Institutional investors have recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. purchased a new stake in shares of Impinj in the first quarter worth about $39,000. Advisors Asset Management Inc. purchased a new stake in shares of Impinj in the first quarter worth about $39,000. Newbridge Financial Services Group Inc. purchased a new stake in Impinj in the 3rd quarter worth approximately $55,000. Asset Management One Co. Ltd. lifted its stake in Impinj by 74.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock worth $67,000 after purchasing an additional 524 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Impinj by 65.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 832 shares of the company’s stock worth $75,000 after purchasing an additional 329 shares in the last quarter.

Impinj Trading Up 2.1 %

Shares of Impinj stock opened at $82.62 on Tuesday. The stock has a 50 day moving average price of $60.58 and a two-hundred day moving average price of $74.80. Impinj has a 52 week low of $48.39 and a 52 week high of $144.90. The company has a debt-to-equity ratio of 8.09, a quick ratio of 4.92 and a current ratio of 8.09. The stock has a market capitalization of $2.24 billion, a PE ratio of -77.94 and a beta of 2.05.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, October 25th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.20. The business had revenue of $65.01 million during the quarter, compared to the consensus estimate of $64.73 million. Impinj had a negative net margin of 9.03% and a negative return on equity of 47.86%. As a group, equities analysts anticipate that Impinj will post -1.1 earnings per share for the current fiscal year.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.