Impinj, Inc. (NASDAQ:PI) Given Consensus Rating of “Moderate Buy” by Brokerages

Impinj, Inc. (NASDAQ:PI) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $119.44.

A number of research analysts have weighed in on PI shares. Roth Mkm raised their target price on shares of Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Canaccord Genuity Group raised their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. StockNews.com raised shares of Impinj to a “sell” rating in a research note on Friday, February 9th. Evercore ISI started coverage on shares of Impinj in a research note on Tuesday. They issued an “outperform” rating and a $160.00 target price on the stock. Finally, Susquehanna raised their target price on shares of Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a research note on Friday, February 9th.

Impinj Price Performance

Shares of Impinj stock opened at $122.08 on Friday. Impinj has a twelve month low of $48.39 and a twelve month high of $142.70. The firm’s 50-day moving average price is $116.17 and its 200 day moving average price is $91.72. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.11. The firm had revenue of $70.65 million for the quarter, compared to analyst estimates of $67.10 million. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. On average, research analysts expect that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Transactions at Impinj

In related news, CFO Cary Baker sold 20,000 shares of Impinj stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the sale, the chief financial officer now owns 55,432 shares in the company, valued at approximately $5,661,824.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CRO Jeffrey Dossett sold 4,858 shares of Impinj stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.11, for a total value of $491,192.38. Following the completion of the sale, the executive now owns 57,110 shares in the company, valued at approximately $5,774,392.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cary Baker sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the completion of the transaction, the chief financial officer now owns 55,432 shares of the company’s stock, valued at approximately $5,661,824.48. The disclosure for this sale can be found here. Insiders sold 120,185 shares of company stock worth $12,767,674 in the last 90 days. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several institutional investors have recently modified their holdings of PI. Sylebra Capital LLC acquired a new position in shares of Impinj in the third quarter worth $217,290,000. Capital International Investors purchased a new stake in shares of Impinj during the 4th quarter worth $68,211,000. Fred Alger Management LLC lifted its position in shares of Impinj by 249.6% during the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock worth $43,802,000 after purchasing an additional 568,301 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Impinj by 40.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock worth $56,260,000 after purchasing an additional 292,470 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Impinj by 16.5% during the 1st quarter. Invesco Ltd. now owns 1,189,985 shares of the company’s stock worth $75,610,000 after purchasing an additional 168,597 shares during the last quarter.

Impinj Company Profile

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.