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

Shares of Impinj, Inc. (NASDAQ:PI) have been given an average rating of “Moderate Buy” by the ten brokerages that are covering the company, Marketbeat Ratings reports. One 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 covered the stock in the last year is $224.60.

Several equities analysts recently commented on the company. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. The Goldman Sachs Group boosted their target price on shares of Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Lake Street Capital increased their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Susquehanna boosted their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st.

Insider Activity at Impinj

In other Impinj news, CFO Cary Baker sold 496 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the sale, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj 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 owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 14.81 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 655,674 shares of company stock worth $131,623,305. Corporate insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its stake in shares of Impinj by 1.5% in the third quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after buying an additional 60,461 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after purchasing an additional 35,893 shares during the last quarter. State Street Corp raised its stake in shares of Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock valued at $233,555,000 after purchasing an additional 220,776 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Impinj during the second quarter worth about $103,252,000. Finally, Geode Capital Management LLC grew its stake in Impinj by 1.4% in the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after purchasing an additional 7,676 shares in the last quarter.

Impinj Price Performance

Shares of NASDAQ PI opened at $192.21 on Friday. The company has a 50-day simple moving average of $205.94 and a 200-day simple moving average of $177.80. The company has a market cap of $5.44 billion, a PE ratio of 215.97 and a beta of 1.81. Impinj has a 12 month low of $78.17 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same period in the previous year, the company earned ($0.36) EPS. Impinj’s revenue for the quarter was up 46.5% on a year-over-year basis. On average, analysts anticipate that Impinj will post 0.4 EPS for the current 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.