Impinj, Inc. (NASDAQ:PI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

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

A number of analysts have recently commented on PI shares. StockNews.com lowered Impinj from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. The Goldman Sachs Group lifted their price objective on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Cantor Fitzgerald lifted their price objective on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Lake Street Capital lifted their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research note on Thursday, October 24th.

Insider Buying and Selling at Impinj

In other news, COO Hussein Mecklai sold 427 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.75, for a total transaction of $101,519.25. Following the completion of the sale, the chief operating officer now owns 60,041 shares in the company, valued at $14,274,747.75. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 488 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $237.84, for a total value of $116,065.92. Following the sale, the executive now owns 65,294 shares of the company’s stock, valued at approximately $15,529,524.96. This represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 655,691 shares of company stock valued at $131,398,769. 51.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Impinj

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Bank & Trust grew its holdings in Impinj by 3.2% during the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after buying an additional 55 shares in the last quarter. National Bank of Canada FI bought a new stake in Impinj during the third quarter worth $30,000. Farther Finance Advisors LLC grew its holdings in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after buying an additional 141 shares in the last quarter. KBC Group NV grew its holdings in Impinj by 29.7% during the third quarter. KBC Group NV now owns 681 shares of the company’s stock worth $147,000 after buying an additional 156 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Impinj by 7.3% during the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after buying an additional 190 shares in the last quarter.

Impinj Trading Down 4.5 %

Shares of PI stock opened at $143.62 on Friday. The business’s 50-day moving average price is $169.26 and its 200-day moving average price is $176.92. Impinj has a 12 month low of $78.17 and a 12 month high of $239.88. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 161.37 and a beta of 1.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $92.86 million. During the same period last year, the firm posted ($0.36) earnings per share. The business’s revenue for the quarter was up 46.5% on a year-over-year basis. On average, sell-side analysts predict that Impinj will post 0.4 earnings per share 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.