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

Impinj, Inc. (NASDAQ:PI) has earned an average rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $224.60.

Several research firms have weighed in on PI. Lake Street Capital boosted their price objective on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Susquehanna raised their price objective on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. Needham & Company LLC lifted their price objective on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Evercore ISI reissued an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday, October 24th.

Insider Buying and Selling

In related news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 14.81 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 7,500 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the completion of the sale, the executive now directly owns 65,294 shares in the company, valued at approximately $11,829,313.98. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 655,674 shares of company stock valued at $131,623,305. Company insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

A number of institutional investors and hedge funds have recently made changes to their positions in the business. National Bank of Canada FI purchased a new position in Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC boosted its position in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after acquiring an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj during the third quarter worth about $54,000. SouthState Corp bought a new position in shares of Impinj in the second quarter worth approximately $94,000. Finally, nVerses Capital LLC raised its stake in Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares in the last quarter.

Impinj Price Performance

Shares of PI stock opened at $191.04 on Friday. The firm has a 50-day moving average of $206.07 and a 200-day moving average of $176.56. Impinj has a one year low of $78.17 and a one year high of $239.88. The company has a market cap of $5.40 billion, a P/E ratio of 214.65 and a beta of 1.81.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The firm had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The company’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.36) EPS. As a group, research analysts expect that Impinj will post 0.4 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 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.